Lengthy article from the latest Eureka Report; from the summary:
"Given the strong purchasing guidance for PDLs, the potential for a $2m NPAT drag in the US to become a breakeven result in FY17 and the profit growth likely to come from the consumer lending book, I am comfortable initiating coverage on CCP with a buy call and an initial valuation of $11.56. Currently the share price represents a forward PE of around 10 times FY16 guidance. Given the expectation that growth will continue in FY17, the one year forward PE is under 10 and the stock appears cheap. With a strong dividend yield and a growing stream of DPS, the company represents an attractive opportunity."
CCP Price at posting:
$10.10 Sentiment: Buy Disclosure: Held
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