Watford,The broker estimates in Feb is too early to rely on.Many...

Watford,

The broker estimates in Feb is too early to rely on.

Many things have happened in between.

1) The 1HY sales - TIM didn't have announcement for that, but GTP announced that its sales fell 2/3 from $150M last year to $51M. This means that GTP's cashflow/income in the 1H is reduced $99M, or say 30c+/share, while the expenditure might even increase from year due to the ever increasing debts and projects under management. Well the total e/s for the whole last year was only ~20c/s. You may guess how much may left.

2) "tax ruling overturned" as I posted earlier under both TIM and GTP. This would also have a dire consequence on TIM and GTP.

Wait until the end of next month, when TIM/GTP have to issue their HY reports and then we will see a clearer picture. More brokers' downgrades on both on the way I reckon.