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Upgrades flow as traction builds in connectivity

Amino Technologies (AMO:AIM) 149p

Gain to date: 30.7% 

Previous Shares view: Buy at 147p, 18 Aug 2016

Nearly two months before the end of its financial year on 30 November Amino Technologies (AMO:AIM) spelled out that it would beat expectations.

GI update AMINO 201016

The home broadcast and connectivity kit designer has had a cracking couple of months through August and September, maintaining the stellar traction in its Latin American markets seen at the half year stage, plus showing real progress in part of Europe. What this amounts to is another increase to forecasts, even after many analysts nudged estimates ahead following the interims, and we wouldn’t rule out a hat-trick of upgrades come the full year results, likely in February. (SF)

Amino has proved to be a cracking contrarian play since the profit warning that prompted us to have a ‘buy’ rating on 29 October 2015 at 114p. We have been long-run fans of Amino. A 180p share price would still imply a quite reasonable cash adjusted November 2017 price to earning (PE) multiple of about 16 for a company increasingly flexing its strong technology in this growing market niche. Still a buy. (SF)

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