Best calls to action – Tuesday, 23 August
About the author:
- Author name:
- By Andrew Tang
- Job title:
- Analyst - Equity Strategy
- Date posted:
- 23 August 2022, 6:30 AM
- Sectors Covered:
- Equity Strategy and Quant
Maas Group (ASX:MGH) - Growth continues, underpinned by acquisitions
Following the conclusion of our blackout period, we update our estimates for the MGH FY22 result, along with the recently announced $105.0m placement and SPP (which raised $6.4m). With founders and management contributing $70m to the raise, it demonstrates their continued belief in the business's intrinsic value.
In the process MGH delivered a strong result for FY22 (+5.6% EBITDA beat vs MorgansF) and issued guidance for FY23 (in line with MorgansF). FY23 EBITDA guidance of $180-200m reflects forecast growth of c.50% (mid-point), demonstrating management's ability to continue growing the business organically and through acquisition.
We reiterate our ADD recommendation and (login to view) price target.
Read our full reports and latest price targets on ASX:MGH here.
New Hope Corp. (ASX:NHC) - All eyes on Dividend upside, FY Result Sep-20
4Q Production/Sales were more resilient to disruption than we had feared. Coal prices continue to surprise, driving further EPS/ valuation upgrades. Valuation/target adjusts to (login to view).
We think NHC can re-rate as the market awakens to the sheer scope of current cash flows and ongoing dividend upside potential. ADD.
Read our full reports and latest price targets on ASX:NHC here.
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You can find further detailed analysis of company results this reporting season by browsing our reporting season tag, and view a full list of upcoming results on our Reporting Season Calendar.
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Disclaimer: Analyst may own shares. The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.