“Since February, Judo Capital Holdings Ltd (JDO)’s share price has drifted lower alongside its banking sector peers and then stepped down today with the overnight block trade exit of two pre-IPO investors,” Raymond said.
“We take this share price weakness as a buying opportunity.
“Nothing fundamentally has changed in the business as a result of these shareholder exits.
“Upgrade to ADD with potential total shareholder return (TSR) at current prices of circa 21%.
“No change to forecasts or discounted cash flow (DCF)-based target price of $2.08,” Raymond added.
Judo Capital Holdings Ltd (JDO)
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