PolyNovo's Share-Price Retreat Creates Buying Opportunity -- Market Talk

Dow Jones
2024-11-26
 

2311 GMT - Morgans senses a buying opportunity in skin-healing tech developer PolyNovo. The stock has fallen roughly 25% since the end of September, which analyst Scott Power thinks is partly because PolyNovo didn't give a trading update at its annual meeting of shareholders. "Consensus has revenue growth of 29% for FY 2025 which will be skewed to the 2H and we are confident it can be achieved," Morgans says. "Growth of 20%+ is expected to continue in FY26/27 driven by regional expansion as well as additional indications." Morgans has a A$2.85/share price target and add call on PolyNovo, which ended Monday at A$2.04. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

November 25, 2024 18:11 ET (23:11 GMT)

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