Our target price remains $13.00. Price catalyst 12-month price target: A$13.00 based on a DCF methodology. Catalyst: FY18 Result, 14-Aug Action and recommendation Maintain Outperform. At the current ~17x multiple CGF is trading at a 6% discount to all industrials (ex banks). Although we see limited upside to the current multiple it remains below the 2% premium it traded at throughout 2017, with arguably a more favourable medium-term outlook.
- Lessening Property Exposure
- Increasing Fixed Income Exposure
- Earnings and target price revision
- EPS changes FY19 -1.4%; FY20 -1.4%, offset by increased sales post the CIPRs commencement date.
CGF The Macquarie View June 2018
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Last
$7.05 |
Change
0.095(1.37%) |
Mkt cap ! $4.886B | |||
| Open | High | Low | Value | Volume |
| $6.97 | $7.10 | $6.94 | $12.30M | 1.758M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 2288 | $7.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.05 | 3052 | 23 |
View Market Depth
| Last trade - 14.56pm 17/07/2024 (20 minute delay) ? |
| CGF (ASX) Chart |