Hi All
This was published before TSE released its results.
Broker Watch
Transfield Services (TSE)
PUBLISHED: 7 hours 41 MINUTES AGO | UPDATE: 6 hours 56 MINUTES AGO
27 FEB 2014
RBC Capital Markets upgraded Transfield Services to “outperform” from “underperform” and has a $1.20 a share 12-month price target on the stock as it reports earnings today, Thursday, February 27.
It was this week granted it a 20-month contract to operate a centre on Manus Island in Papua New Guinea.
RBC said the $1.2 billion detention centre contract ($730 million a year) is significantly above the $175 million a year existing contract.
“We estimate this contract is above normal margins for Transfield and is a significant driver of profits in FY2015. We feel the stock has more to run based on the strength of this contract win.
http://www.afr.com/p/markets/market_wrap/transfield_services_tse_2VEApU7ZMylzw8AuFSbYDO
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Hi AllThis was published before TSE released its results.Broker...
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