Morgans assesses a better-than-expected fourth quarter result from AI-Media Technologies, with a beat on revenue and free cash flow.
While the company completed one large and two small acquisitions in FY21, the broker sees further acquisitions as likely in the medium term. Now free cash generative, the company is estimated to be attractively priced.
Morgans retains it Add rating and lifts its target price to $1.44 from $1.38, after increasing FY21 and FY22 EPS forecasts by around 5%.
Sector: Commercial & Professional Services.
Target price is $1.44.Current Price is $0.89. Difference: $0.55 – (brackets indicate current price is over target). If AIM meets the Morgans target it will return approximately 38% (excluding dividends, fees and charges – negative figures indicate an expected loss).
