Ideas

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.

Regal Partners (RPL) is a relatively small, but rapidly growing boutique asset manager offering a range of alternative strategies across $5.5bn of FUM (at 31 March 2023).