Australia's Polynovo rises, Morningstar raises fair value estimate
24/12/2024 24:11
(Updates)
** Shares of Australia's Polynovo PNV.AX rise as much as
2.9% to A$2.12, highest since Dec. 18
** Investment research firm Morningstar raises fair value
estimate by 5% to A$1.15
** Medical device maker records its highest ever monthly
sales of A$10.1 mln ($6.3 mln) in November
** Co logs total YTD group revenue of A$49.6 mln till
November, up 25.5% vs the same period last year
** Morningstar says fiscal 2025 revenue forecast of A$136
mln ($84.95 mln) implies 32% growth on last year as it
anticipates a stronger-second half on favourable currency
movements and continued market share gains
** Six of eight analysts rate the stock "buy" or higher, two
"hold"; their median PT is A$2.77, according to data compiled by
LSEG
** PNV stock down 24.5% YTD, as of the last close
($1 = 1.6010 Australian dollars)
(Reporting by Roshan Thomas in Bengaluru)
((Roshan.Thomas@thomsonreuters.com))