bullish
Airtasker Ltd - Recovery to be amplified by media deals
SUMMARY
- RaaS Research Group is initiating coverage of online marketplace Airtasker (ASX:ART) with a Sum of The Parts valuation of $0.54/share, representing 86% upside to the current share price.
- Airtasker has created a market leading and profitable position in Australia and established but still young positions in both the US and UK with significant potential upside from brand awareness built through media deals.
- We see upside potential from the Australian discretionary spending environment which in our view could be amplified by two new media deals, with oOh!media and ARN Media, totaling $11.0m.
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