TWR guidance for FY26 i.e. 2 years out of $70m uNPAT or eps of 0.184. Say you apply a conservative 10 P/E to that multiple then its $1.84 sp target. This really is conservative considering TWRs industry peers are trading on much higher than 10 multiples.
So yes 50% appreciation on the cards for next 12 months is definitely doable.
Then more after that for 24 months out.
SP is in a strong up trend and we are entering the cycle of interest rates dropping (not good for investment income but good for risk on assets). A lot to like holding TWR.
And as i type it hits $1 :t_up: