Equity Research Coverage Reports

Spring FG Limited (ASX: SFL) - Highly Complimentary Acquisition
Thursday, March 23, 2017
Spring FG (ASX: SFL) has announced the acquisition of financial service organisation Financial Choice Pty Ltd for a total commitment of $4.8M. While Financial Choice provides a range of financial services, SFL has more extensive capabilities related to financial management including property, taxation, mortgage and insurance services. We expect SFL to enhance the revenue stream of the merged group over time by cross selling its product suite.
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Codan Limited (ASX: CDA) - Outperformed Across All Its Business Units in 1H17
Monday, March 13, 2017
The company delivered revenue growth of 59.9% on the pcp to $103.9m and NPAT growth of 265% to $22.2m. Earnings was up across all three divisions with the Tracking Solutions division delivering its maiden profit. The sale of higher priced products saw the company deliver significantly improved margins for 1H17, with sales of the GPZ 7000 gold detector a key driver.
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Lithium Power International (ASX: LPI) - Advanced High Grade Lithium Asset - Chile
Wednesday, March 1, 2017
We have a valuation range of A$0.83 - A$1.25 per share for LPI, with a mid-point of A$1.04 per share, with 90% ascribed to Maricunga. The recently completed drilling and tenement consolidation have highlighted the potential to significantly increase the current resource at similar grades to the existing – as part of the current final feasibility study LPI will be releasing an updated JORC 2012 compliant resource in Q2, 2017.
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Easton Investments Limited (ASX: EAS) - Financial Services - Positive Momentum Continues in Core Business
Wednesday, February 1, 2017
Since we initiated coverage on EAS in December 2015, the company’s share price has increased 44.2% on the back of the company creating value through a combination of acquisitions and organic growth.
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Creso Pharma Limited (ASX: CPH) - First Company to Import Medicinal Cannabis Product into Australia
Friday, January 6, 2017
While the company has taken significant steps to put themselves in a position to be a significant player in the emerging hemp extract and medicinal cannabis market, the company is in the early stages of growth and is operating in a highly competitive market. With the company undergoing product development and currently generating low levels of revenue, an investment in the company remains speculative
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