SourceBio International is still looking good value according to analysts at Liberum, which has a target price of 210p representing 70% upside.
Results today showed more than 80% revenue growth as SourceBio got a big tailwind from PCR testing, but the core business is growing into its own notes the broker.
“Resources are now being directed back to core divisions with capital available to deploy in further M&A.
“Trading momentum is high, most notably in the cellular pathology service, and the group has a significant market opportunity.”
The business looks undervalued concludes the broker, which has a ‘buy’ rating.