Morgans increases its target price to $0.64 from $0.58 for Acrow Formwork and Construction Services after strong 1Q growth. Management also noted momentum has continued in October with  records for hire revenue, total revenue and earnings (EBITDA).

Guidance for underlying EPS was increased, and is now expected to be up 45-55% versus greater than 40% previously.

Sector: Capital Goods.

Target price is $0.64.Current Price is $0.48. Difference: $0.16 - (brackets indicate current price is over target). If ACF meets the Morgans target it will return approximately 25% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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