Clover Corp's FY21 result was weaker than Ord Minnett expected. Continued volatility in the infant formula market resulted in a -10% miss for forecast total revenue as border closures from covid-19 limited daigou trade. The target price falls to $1.90 from $2.43.

There is a compelling growth story over FY23-24 as the company builds sales and marketing presence after the Chinese minimum omega-3 fatty acids legislation has been approved, explains the analyst.

Sector: Health Care Equipment & Services.

Target price is $1.90.Current Price is $1.46. Difference: $0.44 - (brackets indicate current price is over target). If CLV meets the Ord Minnett target it will return approximately 23% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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