The company's shareholders have approved changing the name to Quintis Ltd. The name change marks the end of its formative stage, having built an Indian sandalwood plantation that is now beginning to be harvested in material volumes.
The company has forward sold the majority of its production over the next five years and recently refinanced its notes to 2023, substantially de-risking the investment in the broker's view.
UBS maintains a Buy rating and $3.20 target.
TFC Price at posting:
$1.46 Sentiment: None Disclosure: Held
