DJ Forward Industries (FORD): One-stop shop for outsourced services
Edison Investment Research Limited
Forward Industries (FORD): One-stop shop for outsourced services
03-Nov-2020 / 08:00 GMT/BST
London, UK, 3 November 2020
Forward Industries (FORD): One-stop shop for outsourced services
Forward Industries has augmented its outsourced manufacturing service offer
to include hardware and software design capabilities and the ability to
secure listings in major US retail chains. This enhanced offer provides a
route for offsetting the declining revenues in the legacy business, which
provides carry cases for diabetes equipment, as well as enhancing profit.
Our indicative valuation is $1.73/share, which is 16% higher than the
current share price.
Our indicative valuation is based on a DCF analysis from FY20 to FY23, with
a 9.7% WACC and 1.5% terminal value. Noting the findings of our sensitivity
analysis, we believe the key catalysts for raising the share price towards
our indicative valuation should be confirmation that management is able to
maintain design gross margins at the levels achieved so far in FY20 and
evidence that the initiative to distribute smart products is being
successful.
Click here [1] to view the full report.
Subscribe [2]to Edison's content to receive reports by email.
All reports published by Edison are free-to-access and available on the
website [3].
About Edison: Edison is an investment research and advisory company, with
offices in North America, Europe, the Middle East and AsiaPac. The heart of
Edison is our world-renowned equity research platform and deep multi-sector
expertise. At Edison Investment Research, our research is widely read by
international investors, advisers and stakeholders. Edison Advisors
leverages our core research platform to provide differentiated services
including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority [4].
Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any
securities.
For more information please contact Edison:
Anne Margaret Crow, +44 (0)20 3077 5700
industrials@edisongroup.com
Learn more at www.edisongroup.com [5] and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-group- [6]
Twitter www.twitter.com/Edison_Inv_Res [7]
YouTube https://www.youtube.com/user/EdisonITV/videos [8]
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
1144792 03-Nov-2020
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=91d01d3a143c593ded4afb03e7956fab&application_id=1144792&site_id=vwd&application_name=news
2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=dc4b6da9609a3fa15934b7007f0912b2&application_id=1144792&site_id=vwd&application_name=news
3: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=2d62d350e44141e01d1766d8ed0b3f95&application_id=1144792&site_id=vwd&application_name=news
4: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=105fe9be9b5e36892886e5a39d51d4b7&application_id=1144792&site_id=vwd&application_name=news
5: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=88c95533002fab2316572f9ef6cf3cc6&application_id=1144792&site_id=vwd&application_name=news
6: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=afe662765000a80ab72afd922939c992&application_id=1144792&site_id=vwd&application_name=news
7: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ec2d264fe4f303e2143a2e85c6eaa823&application_id=1144792&site_id=vwd&application_name=news
8: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=503a664bab9a3c1e597c376ef91e0298&application_id=1144792&site_id=vwd&application_name=news
(END) Dow Jones Newswires
November 03, 2020 03:00 ET (08:00 GMT)
© 2020 Dow Jones News
