FCL - Macquarie rates the stock as Outperform
PUBLISHED
2022-01-31
Content
Fineos Corporation's December half receipts met Macquarie's expectations, posting a quarterly two-year compound annual growth rate of 9.2%. Payments rose 7.2%.
Guidance was steady. No new clients were announced, the company striking growth from its existing clients.
Target price falls to $3.98 from $4.92 to reflect the recent shift in relative valuation and the broker is keeping a wary eye to new client acquisition.
Outperform rating retained.
Sector: Software & Services.
Target price is $3.98.Current Price is $3.56. Difference: $0.42 - (brackets indicate current price is over target). If FCL meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).