The company has made a -$3m acquisition in the mental health space, which will be funded from the company’s existing cash reserves. Morgans estimates it will be circa 3% accretive to FY22 EPS.
The price target rises to $4.22 from $4.11 and the Add rating is unchanged.The broker expects further acquisitions during 2021.
Sector: Commercial & Professional Services.
Target price is $4.22.Current Price is $3.54. Difference: $0.68 – (brackets indicate current price is over target). If PPE meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
