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JP Morgan - 24/09/2009 Overweight VPG Target: $0.14
Target $0.14 (was $0.16). The company is raising $59.5m via an issue and placement with the broker noting the proceeds will go towards a deferred payment to the Scarborough vendors.

The broker notes other cash on the balance sheet can now be used to lower debt, if required, before an LVR test in Deember.

The raising sees the broker adjust its forecasts and price target, but it retains its Overweight rating on the stock.

Target price : $0.14