0110 GMT [Dow Jones] STOCK CALL: Clive Peeters (CPR.AU) has spiked up to 17-month high of A$0.70 on Buy rating from Southern Cross Equities. Broker says Clive Peeters the cheapest retail stock in Australia. SC gives a medium-term price target of A$1.00 - A$1.50 a share, arguing that the recent discount caused by a major fraud should evaporate. Price target based on normalized earnings estimate of greater than A$10 million net profit and PE ratio of 10x-15x. CPR last up 16 cents at A$0.61. (DWR)
CPR Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held