UBS sees a higher probability for MIRA’s current $5.50 bid for Vocus Group to succeed given conducive macro conditions and MIRA’s track record in the space.
Vocus also appears to be tracking well against its FY21 operating income targets, cementing the broker’s view. Based on MIRA’s indicative price, UBS believes MIRA could generate a circa 5-7% equity internal rate of return.
Neutral with a target of $4.40.
Sector: Telecommunication Services.
Target price is $4.40.Current Price is $4.97. Difference: ($0.57) – (brackets indicate current price is over target). If VOC meets the UBS target it will return approximately -13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
