Equity Analysis /
Australia

AU : Data#3 - Move to Hold following share price strength

    Nick harris
    Nick harris

    Senior Analyst - Telecommunications

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    CGS-CIMB
    17 August 2022
    Published byCGS-CIMB

    On 14 July DTL guided to FY22 PBT of A$44m, up 19% yoy. At the time this was slightly ahead of our forecast and slightly below consensus. The share price has rallied ~19% since DTL’s announcement last month. It now sits above our target price so we move to a Hold recommendation. DTL releases its audited FY22 result on 18 August and we expect few surprises. We do not expect management to provide specific FY23 guidance.