PTB Group produced a first half earnings (EBITDA) result 4% above Morgans forecast and management maintained guidance. The group is considered an overlooked covid exit opportunity.

Management is looking to accelerate the take-up of the Engine Management Program (EMP) business model amongst North American customers.This comes after Australian success in capturing revenue, margin and long term customer engagement, explains the broker. 

The Add rating is maintained and the target is decreased slightly $0.88 from $0.89.

Sector: Capital Goods.

Target price is $0.88.Current Price is $0.71. Difference: $0.17 - (brackets indicate current price is over target). If PTB meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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