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Investing.com - Canaccord Genuity initiated coverage on EML Payments Ltd (ASX:EML) (OTC:EMCHF) with a Buy rating and a price target of AUD1.80.
The research firm cited EML’s growth plans, which include a projected four-year revenue compound annual growth rate (CAGR) of 12% and medium-term EBITDA margins of 35%.
Canaccord forecasts adjusted EBITDA increasing to $80 million in fiscal year 2028, with free cash flow generation of over $44 million, representing an enterprise value to EBITDA ratio of approximately 5x.
The firm sees potential upside to EML’s share price driven by management meeting its long-term targets, coupled with a multiple re-rating to 12x FY28 estimated EV/EBITDA, which would align with its comparable peer group.
Canaccord’s AUD1.80 price target is based on a discounted cash flow (DCF) valuation methodology, according to the research note.
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