Report
Toby Thorrington

ArborGen Holdings - Key US market unaffected by COVID-19 thus far

ArborGen’s US sales appear to have fared well in H220 as management has reaffirmed guidance for FY20. While we are aware of COVID-19 risks – which will continue to be monitored – the seasonal H2 bias to dominant US sales along with current customer planting intentions suggest no reason to change the FY21 outlook for now. Consequently, our estimates are unchanged and show good year-on-year progress for both FY20 and FY21, generating low earnings multiples at the current share price.
Underlying
Arborgen Holdings

Rubicon is a holding company. Through its subsidiaries and associate, Co. is engaged in funding, distribution and processing of forestry biotechnology. Co. operates in two business segments: Appearance and Wood Products, and Biotechnology.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Toby Thorrington

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