Originally Posted by
Louisphan
Forsyth Barr just updated new report today 10 Sep 2020.
"Our ongoing discussions with a number of churches across the US confirms our positive view of where PPH is tracking and that digital giving is here to stay. Many US churches have re-opened their doors to physical church services during September and we see upside risk for FY21 forecasts. Feedback from churches confirms our view that church goers give more to an organisation where there is a higher level of physical engagement, while digital giving is still likely to remain the predominant method of donation, due to concerns over handling cash. A high number of small church closures during COVID-19 has accelerated church consolidation in the US, further expanding the more established megachurches. While front book sales are likely to have slowed in recent weeks due to PPH employees working from home and short-term church disruption, we remain positive on the impact of the integrated CCB/PPH bundle (re-branded as ChurchStaq) once normal activity resumes and churches realise they need a longer term digital strategy. We update our valuation methodology to 1) include Australian technology peers on an EV/Sales basis, and 2) lower our WACC from 8.9% to 8.1% in light of changes to cost of capital and increase our target price to NZ$13.06. We view weakness in the current share price as a good buying opportunity."
Actually, I really want to buy in but the Major Shareholders and The CEO sold the shares made me confuse man.