Australia's Polynovo rises as Bell Potter flags optimism around sales
13/12/2023 03:03
** Shares of Polynovo PNV.AX rise as much as 5.3% to
A$1.5375, best day since Dec. 6, if current gains hold
** Analysts at Bell Potter are optimistic about continued
sales momentum as sales keep expanding in newer markets
** Broker maintains "buy" recommendation
** However, downgrades price target to A$1.80 from A$2.05
due to increase in risk free rate and other adjustments to the
valuation model
** 6 of 7 analysts rate the stock "buy" or higher and 1
"sell" or lower; their median PT is A$1.88 –– LSEG data
** Stock has fallen 27.5% this year as of last close
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))