Edison Investment Research - Arborgen Holdings (ARB) Rubicon - Well-positioned going into H2

Report

Edison Investment Research

Toby Thorrington

Rubicon - Well-positioned going into H2

Rubiconâ€™s H1 performance contained typical seasonal trading features ahead of the more important H2 trading period and our earnings estimates are unchanged. We are encouraged to see a number of positive commercial steps being taken in each of the main countries, which will support future aspirations. Our earnings estimates are unchanged as is our previous DCF valuation analysis which indicated a NZ$0.74 per share valuation.

20/12/2018 5 EN

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.

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NZRBCE0001S3 NZX New Zealand

Provider

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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Rubicon - Well-positioned going into H2

ArborGen Holdings - Mixed trading, but solid long-term growth outlook

ArborGen Holdings (ARB): Green shoots appear in the spring

Freelancer (FLN): Building the Amazon of services

discoverIE Group - FY24 EPS in line; good margin progress

Ultimovacs - Steadfast commitment to UV1 progression

OSE Immunotherapeutics - AbbVie deal clears antitrust hurdle

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