re:oct12/raises price targeta$6.71
Beware M&A Noise For Computershare - Citi Wednesday, October 12, 2005 8:17:16 PM ET Dow Jones Newswires
1014 [Dow Jones] STOCK CALL: Stars aligning for Computershare (CPU.AU) operationally as M&A activity, interest rates in key markets move in right direction, says Citigroup. But cautions over imputing too much of "noise" in soaring M&A into CPU earnings. Most larger M&A deals in Europe have come from Spain, where CPU has no registry presence, and Russia, where hasn't been involved in recent large gas M&A transactions. Also, there have been few large M&A deals in U.S. since Equiserve was consolidated in June. Raises price target 6 cents to A$6.71 based on tweak of bond rate assumptions, lower market multiples. Keeps at Hold. CPU latest at A$6.33, up 5 cents. (RBT)
CPU Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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