bullish
Readcloud Ltd - Paving the digital path for education
SUMMARY
- RaaS Research Group is initiating coverage of education technology group ReadCloud (ASX:RCL) with a base case valuation of $0.35/share, representing 257% potential upside to the current share price.
- ReadCloud is a diversified business with three different verticals entrenched in the education sector with the tailwind of accelerating digitisation.
- The business has reached an inflection point under new management having integrated and consolidated previous acquisitions, reduced costs, focussed on profitability and cash generation, and positioned for growth and operating leverage.
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