Morningstar raises fair value estimate on Australia's Polynovo Ltd
23/12/2024 20:12
** Analysts at Morningstar raise fair value estimate on
Australia's Polynovo Ltd PNV.AX by 5% to A$1.15
** Medical devices maker Polynovo, on Tuesday, recorded its
highest ever monthly sales of A$10.1 mln ($6.3 mln) in November
** Company logged total group revenue of A$49.6 mln till
November, up 25.5% vs the same period last year
** Fiscal 2025 revenue forecast of A$136 mln ($84.95 mln)
implies 32% growth on last year as we anticipate a
stronger-second half on favourable currency movements and
continued market share gains - Morningstar
** 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))