Polynovo Ltd
PNV: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$3.20 | Hwjjn | Hkypknjg |
Polynovo: Tracking to Our Expectations
We maintain our AUD 1.00 fair value estimate for no-moat Polynovo. First-half fiscal 2024 sales rose 55% to AUD 42 million with 76% stemming from the main U.S. market. Our earnings estimates are broadly unchanged. We maintain our full-year fiscal 2024 revenue forecast of AUD 99 million, including AUD 9 million in government funding, implying revenue growth of 52% on the previous corresponding period.