It's not the most well known company on the local share market, but the analysts at Goldman Sachs are still bullish on digital investment administration platform provider Praemium Ltd (ASX: PPS).
On May 20 Goldmans' analysts took another look at the fintech player on the back of its announcement that it had signed a new deal with audit and accounting firm Pitcher Partners.
Goldmans' analysts believe the deal means that Praemium's competitive position versus larger rivals such as Hub24 Ltd (ASX: HUB) is still reasonably strong and gives them a renewed confidence in the outlook.
Using a blended discounted cash flow and EV to 15.3x FY20's estimated EBITDA valuation model Goldmans has slapped a 52 cents 12-month share price target on Praemium. This means it has plenty of room to move higher from today's price of 38 cents if Goldmans is on the money.
