Equities

At headline level AVG’s FY23e revenue and EBITDAS guidance were broadly in-line with BPe expectations. We retain our Hold recommendation.

CWP announced lower guidance for FY23 NPAT to approximately $30.0m, which compares to previous guidance of meeting or exceeding FY22 NPAT of $37.4m.

SHV reported an underlying 1H23 EBITDA loss of -$55.6m, and we have outlined the key points including operating results, crop assumptions, and cashflow and balance sheet.

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.