Article (paywall but there is a free 15 day trial) from the Intelligent Investor on MVP rating it as a "Spec Buy" with a price target of $12 and maximum portfolio weighting of 3%.
They reiterate it is still Very High Risk but their key points are:
Their view is that the main product (Penthrox - the "green whistle") is a great product but the company has been let down in the past by poor management.
However, they have now been replaced with a "dream team" of former CSL exectuvies and so they believe the business is ready to turn the corner.
The new management clearly see the potential and have faith in themselves as new CEO MacGregor has opted to take a large chunk of his remuneration in the form of options which vest at share prices from $8–11, while new Chairman Naylor has bought $2m worth of stock, most recently doubling his holding at about $3.90 following the recent full-year result.
Always good to see management aligned with shareholders.
They conclude with "putting it all together, we think we have a great product, with a great market opportunity and a great management team. If all goes well, we could see a return in the low teens over the next 10-15 years."
Personally I agree that the company has potentially turned a corner and is ready to realise it's potential but I am waiting to see some "proof in the pudding" in their results before taking a proper position.
DISC: I hold a very small (and deep in the red) speculative position IRL.
