In the good books
ALTIUM (ALU) was upgraded to Buy from Lighten by Ord Minnett
Ord Minnett notes the share price has fallen -23% over February. While FY20 guidance was lowered to the lower end of the prior range, amid uncertainty surrounding coronavirus, the broker still notes the stock has materially de-rated compared with software stocks globally. While there is a risk guidance may still prove optimistic, looking ahead to FY21, the broker is comfortable with forecasts which imply revenue growth of 20%. The stock now represents value to Ord Minnett and the rating is upgraded to Buy from Lighten. Target is reduced to $33.40 from $37.76.