FORD - Forward Industries expands its outsourced manufacturing service

Forward Industries (FORD) has expanded its outsourced manufacturing service offer to include hardware and software design capabilities and the ability to secure listings in major US retail chains.This would offset the declining revenues in the legacy business, which provides carry cases for diabetes equipment and enhance profit.The company's indicative valuation is $1.73/share, which is 16% higher than the current share price, based on a DCF analysis from FY20 to FY23, with a 9.7% WACC and 1.5% terminal value.

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Forward Industries expands its outsourced manufacturing service