Morningstar has had a $3.00 valuation for months so the other brokers are simply catching up.
Always like Morningstar - great outfit when it comes to SKT. :D
Printable View
Stage set for another strong open....
$2.21 first trades
Huge imbalance of Bids over offers amounts (at least on the simple market depth view I have)
Attachment 13300
Craigs Reiterate Overweight rating $3.00
We estimate the FY22 run-rate for EPS guidance (excludes one-offs but includes annualised recurring savings) is approx. 29 cps, implying SKT is currently trading on a PE of close to 7x. This is lower than historical levels (c10x average), and in our view implies the market is not factoring the cost savings being retained, any further savings, or a stabilisation of the revenue base. This seems overly bearish in our view and we think upside risks currently outweigh the downside.
Price Target $3.00 (prev $2.30)
Our Price Target is based on a one-year forward PE of 10x. Key downside risks include satellite churn rates, rate of ARPU decline, cost of operational change, execution of technology path, and/or M&
Blue Sky mining sorta day ehh,and golden weather ahead!
Well, I think a reminder to Sky that their shareholders are watching and some pressure has helped. They definitely are getting better at communicating with the market, and if the chatter on this forum (particularly from some of the larger shareholders) has helped with that then great.
Bowman looks set to redeem himself in 2022 - which is fantastic. The point made (by me anyway) about the rejection of the 23cps opening offer is not that he was necessarily 'wrong' for doing that...but that he needs to realise that he has put a floor under the price he now needs to get Sky to in order to justify the decision he made. Pure speculation here, but an opening offer of 23cps probably would have closed at 25/26cps.
So that is what Bowman now needs to get the SP above to justify not giving shareholders the opportunty to review and vote on the June offer.
The way things are going, and provided there are no major events (like lockdowns etc) then it seems that Bowman may blow well past $2.50/share and into the $3+ range. In which case, he absolutely made the right call.
I wonder if Osmium will want to start increasing their holding now.
A real lack of institutional selling so far today, unlike yesterday. In fact it appears they are now buyers. Huge sentiment shift with analysts starting to no longer see Sky as a dog.
Where do I track/look for institutional selling?