All the broking houses and analysts are looking at each other...

All the broking houses and analysts are looking at each other .... including Huntley

Here are the recommendations and target prices around October last year...about six months ago

All about $12, some over $14

Just goes to show how little they know and how much of a gamble the stockmarket really is



26-Oct-07 - Citi rated ALLCO FIN FPO as 1 - Buy
Both aircraft and shipping fleets increased in the September quarter and fund creation continues to progress, so the broker sees no reason not to retain its Buy rating. It accepts there is likely to be some investor dissatisfaction with the relad-party nature of the Rubicon deal. -
Last Checked Price: $0.63 - Target price set was $12.69
26-Oct-07 - Macquarie rated ALLCO FIN FPO as 1 - Outperform
So what's the story with this Rubicon price huh? Until we get an answer, the shares are going nowhere, the broker suggests. Otherise, Allco's 10x PE supports the Overweight rating. -
Last Checked Price: $0.63 - Target price set was $14.15
24-Oct-07 - ABN Amro rated ALLCO FIN FPO as 3 - Hold
Target $8.98 (was $8.82). The broker suggests the Rubicon acquisition may be of more benefit to Rubicon shareholders than those of Allco and with it being EPS neutral at best there is no change to its Hold rating. Following a review of operations the broker has made minor increases to its earnings estimates in coming years, which results in the small increase in price target. -
Last Checked Price: $0.63 - Target price set was $8.98
24-Oct-07 - Credit Suisse rated ALLCO FIN FPO as 3 - Restricted
For corporate reasons the broker is currently restricted from making a recommendation on the stock. -
Last Checked Price: $0.63
24-Oct-07 - Citi rated ALLCO FIN FPO as 1 - Buy
Target $12.69 (was $12.58). The broker suggests the acquisition of the balance of Rubicon is reasonable value for the company and results in minor earnings increases. It points out the independence of the deal is somewhat questionable though. -
Last Checked Price: $0.63 - Target price set was $12.69
24-Oct-07 - UBS rated ALLCO FIN FPO as 1 - Buy
Allco has made a bid for the remaining 80% of Ruibcon, which is part owned by Allco board members. The broker suggests they are getting are very, very good deal. The broker sees Rubicon's profits falling substantially in FY08 due to one-off fees booked last period. Unless Allco can raise $2bn in wholsale funds this deal will be 5% dilutive in the first year. Target falls from $12.50 to $11.50. -
Last Checked Price: $0.63 - Target price set was $11.50
11-Oct-07 - Citi rated ALLCO FIN FPO as 1 - Buy
Target $12.58 (was $10.99). The broker has lifted earnings forecasts in coming years to reflect strong outlooks in aircraft and ship leasing. It also sees upside from the group's transformation into a specialist fund model and this supports its positive rating. -
Last Checked Price: $0.63 - Target price set was $12.58
28-Sep-07 - Citi rated ALLCO FIN FPO as 1 - Buy
The broker continues to view the stock as too cheap, noting an aircraft leasing fund IPO in the US was successfully priced and this has positive implications for the unrealised gains on the group's aircraft and shipping portfolios. -
Last Checked Price: $0.63 - Target price set was $10.99
19-Sep-07 - ABN Amro target changed to $8.82.
22-Aug-07 - Aspect Huntley rated ALLCO FIN FPO as 1 - Upgrade to Buy from Accumulate
Earnings were in line with estimates, though Aspect Huntley has slightly lowered its estimate for FY08 following the result. Despite this it still expects earnings growth will be strong so it recommends the stock as a Buy at levels below $10.55. -
Last Checked Price: $0.63
22-Aug-07 - Credit Suisse rated ALLCO FIN FPO as 1 - Outperform
Profit came in 3% higher than the broker's top of market forecast, though it has cut its forecasts in coming years to reflect slight delays in the rollout of new funds. Given the stock remains at a discount to competitors such as Macquarie Bank (MBL) and Babcock & Brown (BNB) the broker retains its positive rating. -
Last Checked Price: $0.63 - Target price set was $14.50
22-Aug-07 - UBS rated ALLCO FIN FPO as 1 - Buy
The result exceeded the broker and has led to earnings forecast increases of 7% and 5% in FY08-09. The broker notes Allco has been unduly "savaged" by the market, falling 18% in the credit crunch. A cheap entry point, the broker suggests. -
Last Checked Price: $0.63 - Target price set was $12.50
22-Aug-07 - Citi rated ALLCO FIN FPO as 1 - Upgrade to Buy from Hold, High Risk
Profit was about 7% better than the broker had expected but it has cut its earnings estimates for FY08 slightly, supporting its decision to cut its price target by around 14%. The upgrade comes from a solid outlook for aircraft and ship leasing markets as recent market volatility is likely to slow deal flow in other areas in the broker's view. -
Last Checked Price: $0.63 - Target price set was $10.99
22-Aug-07 - Macquarie rated ALLCO FIN FPO as 1 - Outperform
The result was in line. The broker reiterates that Allco will hit its straps in FY08-09 and as such remains a good medium term investment. -
Last Checked Price: $0.63 - Target price set was $14.15
20-Aug-07 - Credit Suisse rated ALLCO FIN FPO as 1 - Outperform
The broker is forecasting a profit of $195m, with its earnings growth forecast of 27% being a little above market consensus. Share price support will require progress on the creation of a larger specialist funds management platform in the broker's view. -
Last Checked Price: $0.63 - Target price set was $14.50
27-Jul-07 - UBS rated ALLCO FIN FPO as 1 - Buy 2
The group has acquired the balance of AEP management that it didn't already own, the broker seeing the move as part of a review of the group's specialist funds designed to address performance issues. With the likelihood the next move is greater clarity in terms of reporting, the broker has retained its positive rating. -
Last Checked Price: $0.63 - Target price set was $12.50
24-Jul-07 - UBS rated ALLCO FIN FPO as 1 - Buy 2
The broker hasn't piped up about Allco since September, and on review suggests the company is moving from traditional lease arranger to developing an asset management platform for aviation, infrastructure and financial assets. All in all a positive review and Buy is maintained, but the target has slipped from $12.80 to $12.50. -
Last Checked Price: $0.63 - Target price set was $12.50
11-Jul-07 - Macquarie rated ALLCO FIN FPO as 1 - Outperform
The broker is back from restriction suggesting FY07 was a transitional year with earnings flow to hit FY08 and 09. A good medium term investment, but re-rating would occur if Allco provided a bit more disclosure, the broker suggests. -
Last Checked Price: $0.63 - Target price set was $14.15
14-Jun-07 - Credit Suisse rated ALLCO FIN FPO as 1 - Outperform
The broker continues to take a favourable view on the stock as it points out it is currently trading at a 30% discount to Babcock & Brown (BNB) yet has a stronger earnings growth outlook. While earnings visibility is poor the broker expects the company to deliver a CAGR for EPS of 33% over the next three years. -
Last Checked Price: $0.63 - Target price set was $14.50
18-May-07 - Credit Suisse rated ALLCO FIN FPO as 1 - Outperform
The broker has made only a minor cut to its earnings forecast for the year to factor in the failed Qantas (QAN) bid but continues to forecast strong earnings growth. As a result, it has retained its rating and price target. -
Last Checked Price: $0.63 - Target price set was $14.50
09-May-07 - Citi rated ALLCO FIN FPO as 3 - Downgrade to Hold, High Risk from Buy
A little less than a month ago Citi analysts thought it wise to upgrade the stock to Buy as the bidding consortium of which Allco was part seemed to be on a winning track. However, as we all know now, the deal did not materialise and therefore the recommendation has now been pulled back. Earnings increases that were incorporated last time have been erased again. Share price target drops to $12.73 from $14.00. -
Last Checked Price: $0.63 - Target price set was $12.75
08-May-07 - ABN Amro rated ALLCO FIN FPO as 3 - Hold
Failure in the Qantas (QAN) bid would be a clear negative for the company in the broker's view, but it assumes a failed bid would be quickly followed by a revised offer. As a result, it retains its neutral view on the company. -
Last Checked Price: $0.63 - Target price set was $12.05
13-Apr-07 - Credit Suisse rated ALLCO FIN FPO as 1 - Outperform
The market has pushed down the stock given the uncertainty in terms of the success of the proposed Qantas (QAN) takeover, so the broker suggests the resolution of this issue should be a positive for the share price. This is despite little impact on group revenues this year if the deal proceeds, though the broker estimates there is around a 10% revenue impact in later years. -
Last Checked Price: $0.63 - Target price set was $14.50
13-Apr-07 - Citi rated ALLCO FIN FPO as 1 - Upgrade to Buy from Hold, High Risk
Yesterday, Citigroup analysts thought it wise to point out the potential upside if the consortium would achieve enough support to take most of the shareholders in Qantas out. Today, the analysts feel confident enough to include the potential Qantas deal in their numbers. As a result, the recommendation goes up to Buy. The target goes up to $14.00. And forecast earnings went up: FY08 EPS by 7%, FY09 EPS by 9%. -
Last Checked Price: $0.63 - Target price set was $14.00
12-Apr-07 - Citi rated ALLCO FIN FPO as 3 - Hold, High Risk
Now that the consortium has returned back into the arena with a possibly renewed agreement with its lenders to continue bidding for Qantas, Citigroup analysts believe it is opportune to point out they see a potential valuation upside of 10% for Alco Finance if all this ultimately concludes with a done deal. The current target price does not take into account this upside potential, the broker points out. However, in case the deal falls through some heavy selling pressure can be expected, the report suggests. -
Last Checked Price: $0.63 - Target price set was $12.39
23-Mar-07 - Citi rated ALLCO FIN FPO as 3 - Hold, High Risk
No changes made but analysts believe the appointment of David Clarke (ex-BT/MLC) as the new CEO will turn out a positive move. Citigroup states Clarke brings in funds management experience which has been missing in the current management team, but which will become key as the company moves forward. -
Last Checked Price: $0.63 - Target price set was $12.39