Aerometrex's FY22 results were in line with Morgans forecasts. Given results were flagged in June, the analyst's key takeaway was the 2H rise in costs (fuel, supply chain) to service and acquire datasets. Cost pressures are expected to abate in FY24.

The broker's target of $1.24 is unchanged as earnings forecast downgrades are offset by a roll-forward of the valuation model. The growth potential for Aerometrex keeps Morgans Buy-rated.

Sector: Commercial & Professional Services.

Target price is $1.24.Current Price is $0.52. Difference: $0.72 - (brackets indicate current price is over target). If AMX meets the Morgans target it will return approximately 58% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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