Huntleys as at today did not change their target.
"There’s no change to our view the share price will recover significantly only when the broader market does. Even while the current correction plays out however, we think the stock deserves a better rating than a 5 PER, where it is priced to go broke or suffer serious impairment. We think BNB will be around for many years to come, sourcing and developing infrastructure for investors with the delivery vehicle reflecting the state of investment markets at the time. Previous years saw mostly listed funds launched, this year the new funds will be wholesale (unlisted). We think the stock should trade on a FY09 PER of 14.5 times for a $36.00 valuation, but even a PER of 10 times applied to FY08 earnings gives a $21.42 valuation – 78% above today’s $12.06 closing price. Investors can see the huge amount of fear priced into the stock".
I agree, however, I hold so may be bias.
BNB
babcock & brown limited
