Frontier Digital Ventures' FY23 revenue was in line with Morgans forecast, while the -$10.2m loss was a slight improvement on the -$10.5m anticipated.

Despite ongoing economic headwinds, the earnings trajectory is improving across the consolidated portfolio, notes the analyst.

The broker believes the more difficult trading environment for Zameen in Pakistan is more a cyclical issue rather than being structural.

The Add rating is unchanged and the target rises to 79c from 77c on Morgans improved group earnings margin assumptions.

Sector: Software & Services.

Target price is $0.79.Current Price is $0.45. Difference: $0.34 - (brackets indicate current price is over target). If FDV meets the Morgans target it will return approximately 43% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2024 Acquisdata Pty Ltd., source FN Arena