Morningstar upbeat on Australia's Clinuvel Pharmaceuticals potential

Clinuvel Pharmaceuticals

22/02/2024 19:00

** Brokerage Morningstar says Clinuvel Pharmaceuticals
 CUV.AX  shares remain undervalued despite lower-than-expected
revenue growth in H1
    ** "We maintain our AUD 18 fair value estimate with shares
remaining undervalued" - brokerage 
    ** Morningstar says it suspects the market is
underestimating potential new earnings streams for CUV
    ** Forecasts combined market share across Europe and the
U.S. to grow to 37% by fiscal 2033 from an estimated 13% in
fiscal 2023
    ** Five of five analysts rate the stock "buy" or higher;
their median PT is A$22.25 – LSEG data
    ** CUV down 10.5% YTD, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))