Mader Group - Butcher

(last updated in September 2023)

RECOMMENDATION

I propose a long investment in Mader Group (ASX: MAD), with a price target of A$11/share to be reached within 4-5 years, implying a 70% upside from its closing price of A$6,50 on July 27th. Top-line growth in new business segments and geographies as well as above consensus earnings should serve as short and mid-term catalysts.

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