Price an absolute joke..sack the board..., page-3

Extracts from a couple of SSB private client research notes:



8 May - BIL price $9.65

Brambles remains our key sector pick on a 6-12 months basis. We reiterate our BUY, Low Risk rating and 12 month $13.53 valuation


5 Feb - BIL price $9.63

· Being underweight Brambles could prove a very costly gamble over the next 6-12 months, regardless of potential earnings risk.
· Contrary to a recent Australian press report, Brambles remains one of SSB's most favoured picks on a 12-month view; we reiterate our BUY, Low Risk rating and $13.56 sum of parts valuation (40% upside).


With a price fall of something like 60% in a stock they class as “LOW RISK” one must question how they define “RISK”.

Then again SSB was the underwriter of UEC which lost 97% of its issue price inside a year!!