Morgans believes Nanosonics’ investment in R&D is delivering, after the launch a new digital platform, AuditPro. The platform offers digital traceability, reporting and compliance. This will provide a new revenue stream, which is thought to have good potential.
The analyst had already allowed for a second instrument-disinfection product in FY23 forecasts, so makes no adjustments.
The broker lowers forecasts, mainly in FY21, to reflect an exchange rate adjustment to consumables. The target price have been revised down to $6.57 from $6.69.
Sector: Health Care Equipment & Services.
Target price is $6.57.Current Price is $5.79. Difference: $0.78 – (brackets indicate current price is over target). If NAN meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
