Canaccord Genuity have published an update to their view on $SPZ ahead of Monday's HY Results (call at 11:30 AEDT).

Report gets issued as part of the Free ASX Equity Research Scheme.

Canaccord Genuity Report

Their PT at $1.10 unchanged from their last upgrade in November, which was from $0.75, following the announcement of he increased debt facility.

Basically, some things to watch: i) progress on the business in last 6 months, particularly recent market entries; ii) update on new market entry; and iii) any progress on discussion with QLD Government, now the new Government has been in place a few months.

I'm not expecting anything on ii) as that will likely be deal driven. So, when it happens, that's when we'll find out.

Key positive in the note is that things look quiet for now on the regulatory front in the UK, which is consistent with my media scan of the issue, although press stories do pop up from time to time. Guardian Article, January

I realised I haven't posted my valuation here. Will do next week.

Disc: Held