Micro-X reported September quarter cash receipts below Morgans' expectations but the broker expects a growing sales book to deliver much stronger growth over the rest of FY22. Two new contracts singed in the period should deliver solid revenues.

The broker expects the company's Argus x-ray camera to be a significant revenue driver, with customer demonstrations to begin in 2022.

Add (Speculative Buy) rating and 58c target retained.

Sector: Health Care Equipment & Services.

Target price is $0.58.Current Price is $0.30. Difference: $0.28 - (brackets indicate current price is over target). If MX1 meets the Morgans target it will return approximately 48% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena