Nothing from Macquarie yet, but in February (ie prior to the deal with Google and prior to the recent upgrades) it was forecasting NPAT of 6.5cps in FY21 and 7.5cps in FY22. It also expected dividends to recommence at end FY21. Price target was 62cps. So with the recent upgrades, expect a price target north of 70cps when it gets around to updating its research ...
In a low-interest environment and with debt under control, SWM should trade on a PE multiple of at least 10 (in fact 15 seems reasonable).
Net debt to be reduced from $398m to $245m in just 12 months.
Surprising that such a strong cash generator is staying under the radar ...
SWM Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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