Constructive on VEEM's Medium-to-Long Term Earnings Potential, Despite Fiscal 2026 H1 Guidance Downgrade, Euroz Hartleys Says
MT Newswires Live
Nov 28
Despite VEEM's (ASX:VEE) downgraded fiscal first-half earnings guidance, analysts were constructive on the medium-to-long-term earnings potential of the firm, Euroz Hartleys said in a note on Friday.
It now expects revenue of between AU$24 million and AU$26 million during the period, and EBITDA of up to AU$1 million. Delays from defense sector orders are the primary driver of the earnings downgrade, with the recently concluded six-week US government shutdown a key contributor.
The investment firm retained its speculative buy recommendation and cut the price target to AU$1.30 per share from AU$1.85 per share.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.