Symbio's competitive position unchanged- Morgan Stanley

Symbio Holdings

23/12/2022 04:51

** Morgan Stanley see no adverse change to Symbio Holdings
Ltd's  SYM.AX  competitive position, noting the increasing gross
profit despite economic headwinds
    ** The cloud communications software firm on Tues cut its
FY23 EBITDA forcast  urn:newsml:reuters.com:*:nASX9NLzxD
    ** MS remains "overweight" on stock, but chops PT from
A$4.80 to A$2.20
    ** Adds SYM needs to demonstrate operating leverage and
returns on investment for Singapore and other projects
    ** SYM shares off 0.7% at A$1.49 on the day, taking losses
since EBITDA view cut on Tues to ~45%
    ** Stock down ~78% this year, on pace for worst year ever
since 2006 market debut
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))