broker reports out

Folks...please go to share s cene dot com where I have posted broker reports from Bridges and also from Carmichaels. Wilson's analyst is on holidays currently but should upgrade next week. Carmichael's have a 23c price target, Bridges 15c.

My number crunching gives me basically the same as Carmichael's numbers. Note that Bridges have "normalised" the results - note that Gregg Taylor's a CFA so he's going to process the numbers in that manner. Now...he doesn't allow for the value of the tax losses given he still cannot put 100% on the use of the full $20m of losses, but I do. Technically Gregg's correct, however the continuity of business test is a no-brainer.

I believe that Gregg has a lot up his sleeve so that he can continue to issue upgrades, and Carmichael's only appear to do one report a year, so they have the numbers that should be able to be achieved. Happy reading!