At Probiotec's AGM, management provided 1H guidance for revenue of between $110-115m and earnings (EBITDA) in the range of $16.5-17.5m and expectations for solid organic growth. 

This growth will be attained from leveraging onshoring trends of its large multinational customer base, explains Morgans.

Guidance implied softer margins than the analysts anticipated and the broker lowers earnings forecasts across FY24-26 by -7%, -4% and -3%, respectively. The target falls to $3.15 from $3.35. Add.

Sector: Pharmaceuticals, Biotechnology & Life Sciences.

Target price is $3.15.Current Price is $2.46. Difference: $0.69 - (brackets indicate current price is over target). If PBP meets the Morgans target it will return approximately 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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