We believe CyanConnode’s commercial plan is accelerating. Growth in India is due to build on earlier success in the Nordic markets and drive a transformation of the group. As a result, we forecast a 62% two year sales CAGR and break-even profitability by FY20E (supported by a £4.6m cash position exiting FY18E), alongside unprecedented pipeline visibility. The shares have fallen by 18% YTD and trade on 1.3x EV/sales. We view the current price as a compelling entry point and initiat
07 Mar 2019
Set for a meter-oric rise
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Set for a meter-oric rise
CyanConnode Holdings plc (CYAN:LON) | 9.0 0 0.0% | Mkt Cap: 26.9m
- Published:
07 Mar 2019 -
Author:
Kartik Swaminathan -
Pages:
43
We believe CyanConnode’s commercial plan is accelerating. Growth in India is due to build on earlier success in the Nordic markets and drive a transformation of the group. As a result, we forecast a 62% two year sales CAGR and break-even profitability by FY20E (supported by a £4.6m cash position exiting FY18E), alongside unprecedented pipeline visibility. The shares have fallen by 18% YTD and trade on 1.3x EV/sales. We view the current price as a compelling entry point and initiat