Q: Good morning. May we have your assessment of AYA as to why it has tanked in the past 3 months, what your prognosis is for it, and what your buy-in price would be? Grazzia
5i Research Answer:
A lot of the initial declines stemmed from a messy quarter in Q3 with some ramp-up issues but newsflow more recenttly has been positive with timing of commissionings appearing to be on time and smooth which is helping to alleviate some concerns. Risks are a bit elevated here as markets will want to see solid execution, but the company could see solid revenue growth going forward from here if things go smoothly. We think it is interesting here at the $11 range given the growth expected but there is still a speculative component in the company and it is a higher risk name with some volatility.