Broker note6 Jun 2024 18:02
We reiterate our view that this business is worth £25m - £30m which implies a target price of 12p
This valuation does not fully account for the growth opportunities that we see in the US which provides long term upside potential
At this price the stock would trade on a FY 2023 EV/Sales multiple of 2.1x dropping to 1.7 in FY 2024, a discount To the peer group median of 2.4x FY1
EV/Sales