BellPotter Marketing

Immigration, Refugees and Citizenship Canada (IRCC) has announced the approval of several other English language tests (CAEL, PTE Academic, TOEFL iBT and CELPIP General) for the Student Direct Stream (SDS) visa program starting from 10 August 2023. As a result of the announcement we have reduced our price target to $27.40.

Life360 reported 1Q2023 results that were ahead of our expectations on all key metrics. We have increased our price target to $9.00 and maintain a Buy recommendation.

Cettire (CTT) provided a trading update for the first 4 months of 2H23 (Jan-Apr) and sales revenue of $141.3m (+122% on pcp) and Adjusted EBITDA of $7m were beats to BPe.

AMA downgraded its FY23 normalised EBITDA guidance from $70-90m to $60-68m (vs BP forecast $71m) and cited “ongoing margin compression” as the key reason which was driven by labour constraints, higher employee costs and many contracts not containing appropriate adjustment mechanisms from inflation and/or repair severity.