Micro-X reported September quarter cash receipts below Morgans' expectations but the broker expects a growing sales book to deliver much stronger growth over the rest of FY22. Two new contracts singed in the period should deliver solid revenues.
The broker expects the company's Argus x-ray camera to be a significant revenue driver, with customer demonstrations to begin in 2022.
Add (Speculative Buy) rating and 58c target retained.
Sector: Health Care Equipment & Services.
Target price is $0.58.Current Price is $0.30. Difference: $0.28 - (brackets indicate current price is over target). If MX1 meets the Morgans target it will return approximately 48% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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