Damstra's pivot to positive free cash flow to boost shares - Morgan Stanley

Damstra Holdings

19/07/2023 05:05

** Morgan Stanley sees Damstra Holdings Ltd's  DTC.AX 
movement to positive free cash flow (FCF) will provide major
boost to the stock
    ** The workplace management solutions firm announced on July
10 that it became FCF positive in 4Q23 
    ** Brokerage expects the FCF generation to be sustained in
FY24; forecasts A$0.3 mln ($203,580.00)-A$0.5 mln FCF for
FY24-25 period
    ** Lifts price target to A$0.10 from A$0.06, but maintains
"underweight" rating 
    ** One analyst rates the stock "buy" and one as "sell";
their median PT is A$0.26 – Refinitiv data
    ** Stock down 11.5% this year, as of last close

    ($1 = 1.4736 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))