While conditions are tough, UBS observes the company is making the right strategic steps to emerge stronger.
Moreover, the broker continues to believe there is an opportunity to strengthen the competitive position.
US dollar revenue forecasts are marginally increased. This is slightly offset by FX revisions. All up FY21 estimates are increased by 7% while FY22 estimates are reduced by -8%.
Buy rating maintained. Target is raised to $7.80 from $7.30.
Sector: Technology Hardware & Equipment.
Target price is $7.80.Current Price is $5.30. Difference: $2.50 – (brackets indicate current price is over target). If AD8 meets the UBS target it will return approximately 32% (excluding dividends, fees and charges – negative figures indicate an expected loss).
