The Bull gave CCP a plug this week, stating, “We [Baillieu Holst] continue to view CCP as a quality play. Our analyst Nick Caley has lifted CCP’s price target from $11.95 to $12.05.” Personally, I think such a small shift in the TP (not even 1%) is misleading in that it hints that the TP numbers have a high level of concreteness, which is moot.
I have not recalibrated my valuation for CCP since I posted many months ago that I valued CCP at between $11.00 and $13.00, but I suspect that if I did so, I could easily uplift the bottom of that range to $12.00, and leave the upper end at $13.00. My valuation is personal to me – it's not a price target. Had my TGA shares not retreated, during the recent CCP price weakness, in the inteerst of better balance, I would have shifted some of the TGA investment into CCP, but I was not prepared to sell TGA at its recent low SP to do that.
CCP Price at posting:
$10.88 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)