RE: Target 37.93P confirmed Old news Jerrio78
Another poster uploaded some highlights from Stonecap's report last night:
STONECAP
SECURITIES
Synchronica plc (SYN-TSXV,
.10)
Outperform; Target:
.60
SYN: TSX-V
.10
Rating Outperform
Risk Above Average
Target Price
.60
Projected Total Return 500.0%
What's Changed?
EPS 2011E (Basic) (
.07) (
.13)
EPS 2012E (FD)
.02 NC
Market Data
52-Week Trading Range
.50-
.09
Shares Outstanding, Basic (mm) 157.0
Shares Outstanding, FD (mm) 204.9
Market Capitalization (mm) $15.7
Net debt / (Net cash) (mm) $3.0
Enterprise value (mm) $18.7
Forecasts
FYE: December 2010A 2011E 2012E
Financial Aggregates (mm)
Revenue $10.9 $23.0 $40.3
EBITDA ($2.9) ($13.0) $6.7
Net income ($6.3) ($16.2) $3.7
Net debt / (Net Cash) ($1.2) $3.0 $1.8
Per Share ($)
EPS (
.10) (
.13)
.02
CFPS (
.03) (
.08)
.03
Net Book Value
.34
.19
.15
Profitability
ROA -19.5% -29.8% 6.6%
ROE -25.7% -58.2% 11.7%
Current Valuation
P/E n/a n/a 5.7x
P/CFPS n/a n/a 3.1x
P/Net Book 0.3x 0.5x 0.7x
EV/EBITDA n/a n/a 2.8x
Target Valuation
Based on our DCF valuation of
.58/share.
Source: Capital IQ, company reports, Stonecap Securities Inc.