“We think the seven times peg is a fair discount from precedent transaction multiples of privately held peers, leaving the privatisation door open should the opportunity arise again in the future,” he writes.
KGI Research analyst Kenny Tan has initiated “neutral” on IT equipment seller Procurri Corp with a target price of 38 cents, representing a 12% upside to the counter’s share price of 34 cents as at July 22.
The target price is derived from Procurri’s “FY2022 EV/EBITDA as the valuation base with a seven times peg”, says Tan in a July 22 report.
