RCR rincon resources limited
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Ann: Change in substantial holding from PDL, page-30

  1. Hotfire
    19,936 Posts.
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    19/07/18
    13:17
    Post #: 34449150
    Broker Ord Minnett has released the following view

    SP has been under significant pressure recently, dropping -40% since Feb. They believe the most likely reasons for the fall include slower contract awards and potential downside to consensus forecasts.

    They calculate an implied P/E ratio of 11.3x and conclude that, if investors are happy to pay this multiple for the stock, based on its 10-year average discount to the sector, then the current share price effectively signals no more contract wins in FY19. This means any contract gains would provide upside potential.

    They retain their Buy rating with a Target of $5.19.
    RCR Price at posting: $2.58 Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch. 1  Great analysis
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0.000(0.00%) 		Mkt cap ! $3.510M
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1 190656 1.2¢
 

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1.3¢ 773515 2
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