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23rd June 2024
Bigtincan Holdings Broker Ratings
- Broker Ratings
- Last Updated: June 14, 2024
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Updated Bigtincan Holdings Broker Ratings after announcing a 1 for 3 retail share offer at $0.10 per share.
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Bigtincan Holdings Broker Ratings
18th June 2024
| Date | Broker | Rating | Price Target |
|---|---|---|---|
|
18/06/24 |
Morgan Stanley |
Equal-Weight |
$0.10 |
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Bigtincan Holdings Share Price (ASX: BTH)
Bigtincan Holdings Broker Ratings Commentary
Morgan Stanley – Downgrades Bigtincan Holdings to Equal-weight from Overweight and reduces the target price from 35c to 10c due to a lack of earnings visibility. The industry view remains In line.
Despite management reiterating its free cash flow (FCF) target, concerns arise from an equity raise (a 1-for-3 entitlement offer) and the extension of an expensive debt facility with an effective interest rate of at least 16%. Additional concerns include a high churn rate, declining revenue, and the withdrawal of offers by multiple potential suitors with more detailed data than Morgan Stanley.
