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Morgans has updated their price target. $35.82Some excerpts from...

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    Morgans has updated their price target. $35.82

    Some excerpts from the report.

    APT has released summary details of the independent auditor report into its
    AML/CTF compliance.
    While APT failed to comply correctly with AML/CTF legislation in its infancy, the
    majority of the report recommendations have already been addressed with APT’s
    transaction monitoring now labelled “effective, efficient and intelligent.”
    While an AUSTRAC fine remains a possibility, we continue to see the quantum of
    any potential fine as relatively immaterial versus APT’s market cap ($8bn).
    Maintain ADD recommendation, PT increased to A$35.82. APT’s initial progress in
    the US/UK markets remains encouraging and we believe share price upside exists
    if management’s offshore strategy is successfully executed.
 
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