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2.43%

$2.53 charter hall social infrastructure reit

Goldman Sachs report, page-2

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austted

1,082 Posts.

100

12/08/20

15:24

Post #: 46486285
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Originally posted by SaltySultana: ↑

Released last night. TP $3.23 (31% premium to last close)

We are Buy-rated (on CL) on CQE.AX as we believe the current pricing provides an attractive investment opportunity. On GS estimates, the market is pricing in a 14% devaluation of CQE’s portfolio or an implied cap rate of 7.2% (vs. 6.2% book), which we see as overly bearish given continued government funding, exposure to high-quality operators with limited exposure to Victoria, as well as CQE’s solid balance sheet position and improving outlook. Our A$3.23 (was A$3.16), 12-month price target is based on a 42.5%/42.5%/15% blend of our SOTP (A$2.56, was A$2.68), DCF (A$3.80, was A$3.51) and M&A (A$3.50, was A$3.49) valuations, and implies 37% total return vs. our A-REIT coverage average of 17%.

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Reinforces my view which is a bit of a worry.

CQE Price at posting: $2.48 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $2.53		Change 0.060(2.43%)		Mkt cap ! $945.1M

Open	High	Low	Value	Volume
$2.49	$2.53	$2.48	$986.2K	392.0K

Buyers (Bids)

No.	Vol.	Price($)
1	6349	$2.51

Sellers (Offers)

Price($)	Vol.	No.
$2.53	5081	2

View Market Depth

No.	Vol.	Price($)
1	6349	2.510
1	2582	2.500
2	3645	2.490
1	1063	2.480
3	26463	2.470

Price($)	Vol.	No.
2.530	5081	2
2.540	3582	2
2.550	13476	2
2.570	8323	3
2.590	2500	1

Last trade - 16.10pm 29/07/2024 (20 minute delay)

CQE (ASX) Chart