Morgans research report released yesterday with price target of $0.86, up from $0.68.
Livehire
Maintaining momentum
LiveHire recently filed its FY17 financial results, where outcomes were in line with our expectations. The year-end cash balance was better than expected.
We have changed our accounting treatment for research and development costs. In line with LVH’s accounting treatment, we will capitalise R&D costs from now own.
Due to a number of changes, and a roll forward to a new year, our DCF valuation has increased to A$0.86/share (up from A$0.68/share). Our price target, driven by our DCF valuation, increases accordingly.
We maintain an ADD recommendation (high risk)
LVH Price at posting:
75.5¢ Sentiment: Buy Disclosure: Held
