Pinned straw:
Redemption…?
I refuse to pay for broker content. So instead I’m just wading through a sewer of AI generated garbage — and have probably submitted myself to about a decade of email spam — all in my vain attempts to dig under these paywalls when I should be sleeping.
I’m giving up now, but just FYI the consistencies in the rumours are broker coverage commencing, and price targets (in US dollars) as follows:
- Cantor Fitzgerald at $9.00;
- TD Cowen (underwriters of the IPO) at $15.00; and
- Barclays at $22.00.
Of course, it could all just be in AI BS dollars and I’ve just finally broken my internet with my Anteris monomania. I’ll check the NY closing price when I wake up and see if there was anything in it.
All three investment houses were behind the IPO and are to some extent obviously selling their book:
Matt Miksic (the analyst behind the $22 Anteris price target) also covers Edwards Life Sciences for Barclays.
Mikisic has also recently lowered his target price for Edwards:
https://www.nasdaq.com/articles/analyst-verdict-edwards-lifesciences-eyes-17-experts
Edwards list a further 28 analysts who cover them - participating in the earning calls and writing them up. This med-tech is big business in the US and promises the type of coverage Anteris was never going to receive whilst it remained solely on the ASX.
I think the TD securities stabilisation process (announced daily in ASX announcements with them buying on market under the IPO price of $6 USD) ends shortly (or has already) and now the post-IPO pump can begin.
Finally, something reputable in the form of the Wall Street Journal. Barclays at a low-ball $22:
Not huge, but enough of a bump to convince me broker coverage has actually commenced. This is the least spammy article I’ve found so far (but it was a low bar):
I’m expecting more mainstream news articles and perhaps even a company press release in coming days. Could take the Australian market a day or two also to catch up. I think there is a bit of runway left just on this news alone (merely broker coverage commencing), let alone the targets themselves.