Buy, Hold, Sell – What the Brokers Say

Founder of FNArena
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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.

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