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recommendations. Where a Fair Value price is given in a research note, such as a DCF or peer comparison, this is the theoreti cal result of a study of a range of possible outcomes, and not a forecast of a likely share price. Hardman & Co may p ublish further notes on these securities, companies and legal entities but has no
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However, this necessitated capacity expansion and realignment of its supply chain, which affected 2019 trading and forced renegotiation of its MidCap loan arrangement. In our view, the current share price reflects TRX’s need for a capital injection.
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