ubs macquarie say buy

UBS - 01/03/2010 Buy REF Target: $0.40 Gain to target $0.18 - 01/03/2010
While the result was in line with UBS forecasts, the broker has lowered its FY10 earnings forecasts by 4% and FY11-12 by 25% due to weaker UK margins and negative call volume trends.

However, at the current share price UBS maintains a Buy on the stock, although the broker lowers its target by 10c to 40c.

Target price : $0.40 Price: $0.23 (01/03/2010) Gain to target:$0.18 77.78% (excluding dividends, fees and charges - negative figures indicate an expected loss).


Macquarie - 01/03/2010 Neutral REF Target: $0.30 Gain to target $0.08 - 01/03/2010
Interim earnings were broadly in line with the broker's forecast and means only minor changes to its estimates in coming years.

The company needs to secure new origination agreements or alternative revenue streams and until this is done it expects the stock will remain under pressure, so the broker retains its Neutral rating.

Target price : $0.30 Price: $0.23 (01/03/2010) Gain to target:$0.08 33.33% (excluding dividends, fees and charges - negative figures indicate an expected loss).