Genex Power reported 4Q22 results in line with Morgans expectations.

The broker notes the takeover offer from Skip Capital Fund and Stonepeak Partners at 23c per share considerably undervalues the company.

Morgans view Genex Power's hydro project positively with the potential to be finished on budget and then providing investors with a 30 year stable earnings stream, once operational in FY25.

The Add rating and the price target price is lowered marginally to 30c from 31c.

Sector: Utilities.

Target price is $0.30.Current Price is $0.21. Difference: $0.09 - (brackets indicate current price is over target). If GNX meets the Morgans target it will return approximately 30% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena