TRAJAN GROUP HOLDINGS LIMITED (TRJ)
Share Price Analysis and Chart

16/12/2024

1

Buy

$1.50

47.06%

Ord Minnett transfers coverage of Trajan Group and raises the target price to $1.50 from $1.40.

The analyst highlights the 1Q25 trading update revealed an improving growth outlook compared to the previous year, although there was ongoing variable demand across markets.

Bio-pharma is expected to improve over 2025, with management confirming FY25 earnings guidance of $17m-$19m. The broker also believes the pharmaceutical sector will act as a tailwind for 2025 and beyond.

Ord Minnett lifts EPS estimates by 2% in FY25 and by 7% out to FY27.

The Buy rating is unchanged. Target $1.50.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.50 cents.
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.80 cents.

04/11/2024

1

Buy

$1.40

37.25%

Trajan Group has retained FY25 guidance despite challenges in the pharma segment and lower capital equipment demand, notes Canaccord Genuity, with anticipated revenue between $160-$165m and core EBITDA of $17-$19m.

Strength in MOSH/MOAH food testing offsets weaker segments, with the broker commenting recent updates show optimism in a second-half recovery for Pharma.

The broker believes Trajan Group is positioned for potential growth in the food/beverage testing sector and in Asia, while trading at a discount relative to its global peers.

No change to Buy rating and $1.40 target price.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.70 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.60 cents.