For those interested here are the Full Analyst Reports.Macquarie...

For those interested here are the Full Analyst Reports.

Macquarie 16/07/2008 5 Underperform $0.50 100.0%
The broker has noted the sale of 29 of 31 properties in the Centro America Fund at a 10% discount, has offered an ambiguous debate on cap rates, and has retained Underperform.

JP Morgan 16/07/2008 5 Underweight $0.76 204.0%
Target $0.76 (was $0.60). The group has contracted to sell 29 of 31 properties in its Centro America Fund, which sees the broker's net asset value move to $0.76.

As uncertainty surrounding the group's outlook remains the broker has not changed its Underweight rating on the back of the news.

Merrill Lynch 09/05/2008 5 Sell, Medium Risk - -
Another day, another loan extension, another reason not to go near Centro unless you're a thrill-seeker, the broker suggests. The potential asset buyers can "smell blood", and are enjoying themselves.

UBS 03/03/2008 3 Neutral $0.73 192.0%
In the broker's view the market remains relatively uninformed regarding the group outlook, especially as earnings are under review.

With some unidentified liabilities and downside risk in the services business there is some valuation risk attached to the stock in its view so the broker retains a Neutral position.

Credit Suisse 31/01/2008 5 Downgrade to Underperform from Neutral $0.64 156.0%
Target $0.64 (was $1.20). The cut in the broker's price target reflects rising cap rates for its US assets.

It suggests further volatility is likely given refinancing of liabilities remains the key to survival so to reflect this and the change in target price the broker has downgraded its rating.

Citi 16/01/2008 3 Hold, Speculative Risk $1.04 316.0%
The broker believes the appointment of Glenn Rufrano as CEO was the most obvious solution available to the Board to distance itself from the former management regime in a move to appease lenders and bond holders.

The first test will be whether the new CEO can be a voice of reason in the current situation of jittery lenders, says the broker.

For now the price target remains at $1.04 with the rating intact at Hold with Speculative risk which takes into account uncertainties associated with the ultimate outcome of the company’s strategic review and the support it will receive from its lenders.