1045 [Dow Jones] Computershare's (CPU.AU) earnings pre-announcement - that 1H management earnings per share should be up 20% on year - inspires a raft of price target increases. Citi raised its price target to A$12.55 from A$11.29; Credit Suisse to A$14.29 from A$13.99; Deutsche Bank to A$12.00 from A$10.50. Credit Suisse cuts it rating to Neutral from Outperform, however, due to group's outperformance of S&P/ASX 200 by 7% over past week, 13.5% over past quarter. CS says it sees "continued medium-term upside for CPU from: positive exposure to global corporate actions activity (IPOs, M&A and further capital raisings from the financials sector); incremental bolt-on acquisitions; and a continued focus on cost controls, supportive of margin expansion." DB says CPU has clearly benefited from a pickup in secondary market activity and the rebound in the Hong Kong IPO market but that "it's hard to see how Computershare's earnings will continue to outpace the broader market". (
CPU Price at posting:
$12.25 Sentiment: Buy 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)