Equity Analysis /
Australia

AU : Nanosonics - Trading update gives confidence

    Scott Power
    Scott Power

    Senior Analyst - Healthcare, Life Science & Technology

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    CGS-CIMB
    25 July 2022
    Published byCGS-CIMB

    NAN has provided a trading update implying that the transition to the new sales model is progressing well and is substantially complete. NAN expects revenue of A$120.3m up 17% for FY22. This is slightly ahead of MorgansF of A$117.5m and consensus at A$116.3m. We have made no changes to our forecasts or valuation of A$4.86. Maintain Add recommendation.