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magazineGreat Ideas update - Fusionex
Fusionex (FXI:AIM) 192.5p
Gain to date: 63.8%
Previous Shares view: 175p, 1 Sep 2016
Another shot in the arm for investors in data analytics suite supplier Fusionex (FXI:AIM), putting out a positive trading update (24 October) covering its full year to 30 September. The company anticipates revenue in line with MYR 90.4m consensus estimates (it reports in Malaysian Ringgits, so about £17.7m) and will run up ‘significantly’ lower losses despite its well-flagged and hefty invest to grow plans.
This is very much strategic doing, not just talking, and shareholders should be really pleased. The market may have been shocked by the company’s initial steer for a spell of losses as the company goes through the growth gears, but there can be little doubt that strategic progress has been marked since, and the shares have rallied as we thought they might.
The launch of the scaled down GIANT 2016 suite is looking an increasing master stroke. (SF)
Peel Hunt analysts reckons the shares should hit 220p inside of the next year, the consensus says 274p, according to Reuters data. We think both targets could prove conservative.
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