Avanceon Limited (AVN): The Tech Saga Roles On – By Darson Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We initiate our coverage on the stock with a BUY recommendation on the company with a Target Price of PKR 185/share for Dec-22 thus proving an upside of 57% from the LDCP of PKR 117.64/share. We comprised our valuation using the discounted cash flow with a WACC of 16%. The company is currently trading at CY22 F P/E of 14.08x.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">AVN was incorporated in 2003 as a Private Limited Company and was later in 2008 converted to a public limited company. The company is primarily a tech centric company where it offers flexible solutions to it&amp;rsquo;s clients. The company has continued to show strong growth over the past 5 years (CAGR-32%). The company&amp;rsquo;s primary source of ...