Mgmt Mtg Takes: Simulate Through FY27 to Harvest Mode in FY28 and Beyond

Research evidence excerpt

Mgmt Mtg Takes: Simulate Through FY27 to Harvest Mode in FY28 and Beyond

views expressed

in this research report.

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Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published June 24, 2026 8:19 A.M.

Recommendation Distributed June 25, 2026 6:00 A.M.

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Buy - Describes securities that we expect to provide a total return (price appreciation plus yield) of 15% or more within a 12-month period.

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The expected total return (price appreciation plus yield) for Buy rated securities with an average security price consistently below $10 is 20% or more within a 12-