ord minnett rec

Hi all,

Ord Minnett report (19/11/08) for IDL rating as a buy with 12 month target price of $0.61

12 month Target price $0.61.

FY09 earnings are have been assumed flat on FY08 but Ord Minnett still has a positive outlook on IDL (Huddy's) contracts to at least have stable earnings over the next 4 year period.

Also focuses on the high sell down in mining services sector and how the large sell down across all mining service companies does not take into account type of contracts that they have (BHP, Xstrata etc)

I do not hold IDL but thought I would pass information on.

Do hold MAH, FLX, OZL, BHP, ANZ, WBC, IPL