RE:RE:Upgrade 3Upgrades are upgrades staydotcalm. If the results progress as management inferred on the call, there should room for additional upgrades as the year goes along.
In reviewing the analyst reports, the average revenue assumption for 2024 is conservative at less than +8%. Red Fox, alone, should allow this target to be achieved. In 2025, average revenue assumption underpinning the targets is +11%. Margin/cost of product still deserves close scutiny and is probably the single "show me" factor in Cormark's lower target.
In the end, I'm quite comfortable with conservative assumptions - better to secure a reputation for exceeding expectations.