IMS 0.00% 69.0¢ impelus limited

In Bell Potter's own words, page-2

  1. 4,099 Posts.
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    I made mention of this the other day.

    You'll note the section above the one you've highlighted.

    Bell Potter would take into account the size of the markets involved. When Bell Potter wrote the report, the USA was in consideration. They no obviously don't see any USA revenue in FY15 so of course that's a downgrade.
 
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