Macquarie reviews estimates after making comparisons with and concludes the offering from Fineos, supported by ongoing R&D, should position the business appropriately to win new clients and upgrade existing clients to the cloud.
The main risk is the timing of new contracts and client upgrades. The broker makes no changes to forecasts, retaining an Outperform rating and $4.63 target.
Sector: Software & Services.
Target price is $4.63.Current Price is $3.65. Difference: $0.98 – (brackets indicate current price is over target). If FCL meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).
