Ideas

CGC reported a 1H21 underlying EBITDASL in line with expectations at $124.4m (BPe $124.0m). In the near term we note reasonable export citrus pricing and strong off season berry pricing trends as supportive of the 2H21e outlook.

BST delivered a strong debut FY21 result that was well ahead of Prospectus forecasts and slightly ahead of the company’s 26th July update. FY21 pro-forma EBITDA (preAASB16) was $71.6m, 18.0% ahead Prospectus & well up on pcp of $27.0m.

Accent Ground (AX1) announced a strong FY21 result, although COVID restrictions/lockdowns in July/August have had a material impact on 1H22. Our 12-month price target reduces to $2.90 (previously $3.30), and we retain our Buy rating on the stock.

After Money3 Corporation (MNY) posted an exceedingly strong FY21 result, we have increased our price target to $4.15ps (previously $3.70ps) and retained our Buy recommendation.