Codan Ltd (ASX: CDA) is a manufacturer and supplier of communications, metal detection, and mining technology.
Its main focusses are the design and manufacturing of high-frequency (HF) and land mobile (LMR) radios, including transceivers, antennas, modems, amplifiers, and accessories.
It also produces metal detectors designed for military and mining.
This technology company has had a rapid rise in 2025, soaring 16.29% so far this year.
For context, the S&P ASX ALL TECHNOLOGY (ASX: XTX) is up 5.87% during that same span.
Codan shares are now up 76.50% in the last 12 months.
12 months ago the share price sat at roughly $10.00 a piece. If it continues at this rapid pace it would double in just over a year.
Codan's communications business has been one of the prime factors in the company's growth, particularly over the last 3 years.
Codan designs and manufactures mission-critical communication solutions tailored for military applications.
Additionally, the company reported strong earnings season results in February.
The company reported a revenue of $305.6 million in the first half of fiscal year 2025. This was up 15% on the prior corresponding period.
It also reported a 21% year-on-year boost in earnings before interest and tax (EBIT) to $65.8 million. Net profit after tax (NPAT) of $46.1 million was also up 21% from H1 FY 2024.
At the time of writing, Codan shares are trading at $18.85 each.
According to the company, increased military spending is expected from countries like Australia, USA, New Zealand and the UK.
But generally, it seems experts believe Codan is trading near fair value.
Broker Bell Potter currently has a price target of $17.00 on the tech company's shares.
Last month Andrew Wielandt, DP Wealth Advisory (via the Bull) said the 12-month broker consensus target is $17.90.
Trading View has a one year price target of $17.75.
Last month Goldman Sachs placed a 12-month price target of $18.50 on Codan shares.
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