abn target 8.10

MARKET TALK: ABN Morgans Expects Buys To Boost CPU 16/08/06 14:35:00

1435 [Dow Jones] Computershare (CPU.AU) share drop "appears to be a reaction
to CPU's failure to outperform consensus," ABN AMRO Morgans says in client note.
"For us, the most impressive aspect of the result was the 67% increase in net
operating cashflow to A$245.8 million," vs ABN at A$211.1 million, it says.
"Cashflow generation is very strong so we can expect further acquisitions soon,
which would likely give the share price a boost." ABN expects 25% EPS growth in
FY07. Keeps hold recommendation, A$8.10 target. Last trade down 1.9% at A$7.31.
(ABH)