Merrill Lynch analyst, Matthew Booker, says earnings forecasts for Australian share registry, Computershare, are not attainable. Shares in the stock closed $A0.01 down at $A2.09 on 8 July 2002. The company forecasts net profit for 2002-2003 of between $A60m and $A73m. Booker says in a written note to clients that the figure should be around $A50m. However, he notes that the company's management is attempting to improve transparency and "investor understanding", after the company's shares fell more than 60 per cent during 2002 following profit warnings. Booker maintains his $A1.90 share valuation for Computershare, and a "neutral" recommendation. _____________________________________________
So does this mean that CPU priced at $1.50 which it will hit next week would look cheap , plus revenues to kick in from new acquisitions . ___________________
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