Beacon Securoties price target and researchSo 2022 Q1 revenues were only $7.1 and if i remeber correctly Q2 revenues were $5mil and change I do beleieve we will beat this revenue by about 50% for.Q1 and Q2.2024. The Beacons conservative price target is based on 18% revenue increase for the whole year of 2024. So if CVX achieves revenue increase in excess of 18% then the price target of .70c should be achieved by summer time.
Beacon research
However, we have actually moderated our F2024 top-line growth forecast from 30% to 18%. This looks very conservative against the 84% growth produced in F2023, preceded by 28% in F2022, though to some extent, the F2023 growth reflected some catch-up from the COVID period as well as the pull-forward of some work from F2024 Potential s.p catalysts include additional contract wins/backlog updates, and the Q1 results (expected May 8th)