Getting cold feet, page-275

Stockwatch: Vocus Group

JPMorgan has upgraded its recommendation to "overweight" and finds Vocus is now its preferred stock in the telco sector on prospects for low-to-mid single digit earnings growth medium-term, ahead of Telstra and TPG. The broker's bullish view comes only after it was able to mount confidence in the company's forecasts after accounting revisions and "reset" expectations. On 2017-18 earnings estimates and using peer multiples for the consumer and corporate aspects of the business, its sum-of-the-parts valuation estimates on Vocus range from $2.78 a share to $3.73 a share with a mid-point of $3.26. Risks to its view include lower margins, increased competition, and further accounting "anomalies". JPMorgan's Vocus price target is $3

https://www.brisbanetimes.com.au/bu...led-by-macquarie-a2-milk-20170911-gyf0za.html