Nitro Software ware (NTO)
Nitro continues to expand its operations and gain traction in two fast-growing categories of document management and digital signatures.
Integral Diagnostics (IDX)
Radiology is a structurally healthy sub-sector and Integral in our view remains the best pure-play exposure on the ASX.
The A2 Milk Company (A2M)
We expect to see notable investment on both marketing and product innovation in the near term. This continues to present elevated uncertainty for the future earnings trajectory.
Capitol Health (CAJ)
It’s expensive on fundamentals but has obvious and growing corporate appeal as a low-cost provider of radiology services.
SELL Bravura Solutions (BVS)
We believe material revenue growth for Bravura remains challenged. We view recurring revenues as yet to trough.
Elevated cyclical factors present a headwind to earnings growth. Valuation looks full and we see the risk/reward equation as biased to the downside.