Morgans expects the first half result on November 17 to have a conservative tone as the company has a history of under-promising and over-delivering. The broker will be looking for further details on Nuvisan to underpin the revenue outlook.
More signs of price improvements linked to strong demand and flows for geochemistry are anticipated, although this could be slower to unfold compared with the capacity additions. Morgans raises the target to $13.17 from $12.45 and retains a Hold rating.
Sector: Commercial & Professional Services.
Target price is $13.17.Current Price is $13.54. Difference: ($0.37) – (brackets indicate current price is over target). If ALQ meets the Morgans target it will return approximately -3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
