Taking a look at TOY after @thamno found the canaccord ASX broker report.
TOY has articulated ambitious medium-term targets to hold 5% market share in the ANZ domestic toys and babies industries as well as 3-4% market share in hobbies, which equates to a medium-term revenue target of ~$300m (CGe $75m gross profit). In our view, the addition of the UK market increases the company’s TAM across both geographies to >A$10B, providing significant growth optionality over the medium term that is largely not factored into our current revenue forecasts. We reiterate our BUY rating; our DCF-based target price is unchanged at $0.25ps.