IPH – Macquarie rates the stock as Upgrade to Outperform from Neutral - 11 March 2019
Macquarie believes IPH is well-positioned in the three-way merger tussle, as the Qantm ((QIP)) merger deal with Xenith ((XIP)) remains subject to a number of hurdles [ACCC approved last Thursday].Importantly, there is the opportunity for a competing proposal should it emerge and Macquarie calculates there is material accretion potential.The broker upgrades to Outperform from Neutral and raises the target to $7.10 from $6.00. The broker factors in earnings upgrades driven by FX and a multiple re-rating, with M&A risk skewed to the upside.
Sector: Commercial & Professional Services.
Target price is $7.10.Current Price is $6.49. Difference: $0.61 – (brackets indicate current price is over target). If IPH meets the Macquarie target it will return approximately 9% (excluding dividends, fees, and charges – negative figures indicate an expected loss).
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Last
$5.98 |
Change
-0.020(0.33%) |
Mkt cap ! $1.481B |
Open | High | Low | Value | Volume |
$5.98 | $6.05 | $5.95 | $1.081M | 180.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1870 | $5.96 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.00 | 2806 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1870 | 5.960 |
2 | 6821 | 5.950 |
1 | 1870 | 5.940 |
1 | 1500 | 5.910 |
6 | 13164 | 5.900 |
Price($) | Vol. | No. |
---|---|---|
6.000 | 2806 | 2 |
6.010 | 2806 | 1 |
6.050 | 8835 | 2 |
6.060 | 250 | 1 |
6.100 | 5000 | 1 |
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