Australian Broker Call *Extra* Edition – Jan 25, 2021

Daily Market Reports | Jan 25 2021

An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

AND   ARX   FCL   GNC   HUB (2)   MND   MSB   PNV   PPH   TYR   UMG  

AND    ANSARADA GROUP LIMITED

Overnight Price: $1.23

Moelis rates ((AND)) as Initiation of coverage with Buy (1) -

Moelis initiates coverage of Ansarada with a Buy rating and a target price of $1.83.

Ansarada's cloud-based information governance platform allows secure document management and workflow for use across M&A, capital raising, governance and other internal processes.

The company's flagship VDR product is now complemented by governance and board products with application across the full information governance life cycle. Moelis considers Ansarada well placed to grow share across its addressable markets.

M&A activity will likely rebound in 2021 after contracting by circa -20% in 2020. Encouragingly, says the broker, the company boasts a proven track record and high win rate with more than 23,000 transactions facilitated over 15 years.

Moelis expects Ansarada to show strong growth over 2021 with M&A markets recovering and revenue diversifying across new and enhanced platform use cases.

This report was published on January 15, 2021.

Target price is $1.83 Current Price is $1.23 Difference: $0.6
If AND meets the Moelis target it will return approximately 49% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY21:

Moelis forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 8.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.82.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 6.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.16.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $1.12

Bell Potter rates ((ARX)) as Buy (1) -

Bell Potter maintains its Buy rating with a price target of $2.

Aroa Biosurgery's distribution partner Tela Bio reported its preliminary fourth-quarter results, leaving Bell Potter impressed by its strong revenue growth of 13-17% for the quarter and 17-18% growth for 2020 versus last year.

The broker is very impressed with this level of growth for a period in which the hernia registry was down by circa -30%. Bell Potter views Aroa Biosurgery's ability to take market share as proof of Tela’s strong sales strategy and execution.

Some key catalysts to drive growth include Bravo clinical updates and Myriad clinical data.

This report was published on November January 18, 2021.

Target price is $2.00 Current Price is $1.12 Difference: $0.88
If ARX meets the Bell Potter target it will return approximately 79% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY21:

Bell Potter forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 2.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 48.70.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 70.00.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


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