Outperforming Catapult Is Still a Hold for Bell Potter -- Market Talk

Dow Jones09-17

0025 GMT - Bell Potter analyst Chris Savage admits he has been wrong on Catapult for the past few months, but still doesn't change his recommendation on the stock. Savage acknowledges that his hold rating was incorrect given that the sports-tech provider's stock has been among the very best mid-cap tech performers over recent months. He attributes its surge since May to a good annual result, a positive outlook and a general re-rating of tech stocks. Savage raises his valuation multiple to 3.5 times revenue from 2.75 previously, but tells clients in a note that his Ebitda forecasts are still below the analyst average. Bell Potter raises its target price 34% to A$2.35. Shares are flat at A$2.38. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 16, 2024 20:25 ET (00:25 GMT)

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Savage acknowledges that his hold ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAT.AU","symbol_name":"CATAPULT GROUP INTERNATIONAL","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2468870553","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468870553","pubTimestamp":1726532700,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0025 GMT - Bell Potter analyst Chris Savage admits he has been wrong on Catapult for the past few months, but still doesn't change his recommendation on the stock. 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