Propel Funeral Partners announced three acquisitions in regional Australia/New Zealand at A$10.6m (cash/script based) and an upsizing of funding facilities.
IPD has announced the acquisition of CMI Operations for an upfront $92.1m and contingent consideration of up to $8.9m. Our revised PT is $5.75 (prev. $5.50) with our Buy recommendation remaining unchanged.
RRL has announced the closure of its gold hedge book for a cost of A$98m. Our NPV-based valuation is up 3%, to $2.37/sh and we retain our Buy recommendation.
We have reviewed our Life360 forecasts post the release of the 3Q2023 result a couple of weeks ago and made some minor adjustments. We maintain a Buy recommendation and have decreased our Price Target by 2% to $11.00.