ipl broker outperform

Credit Suisse rates IPL as Outperform - Reinstatement of Coverage - The broker has reinstated coverage with a $5.30 price target and an Outperform rating as it sees the recent capital raising as providing the company with significant headroom in which to deliver on growth projects.

Changes to its forecasts have been made to account for the recent capital raising but the broker remains positive on the outlook for the group even in the face of weaker fertiliser prices.

Target price is $5.30 Current Price is $2.32 Difference:$2.98 - (brackets indicate current price is over target). If IPL meets the Credit Suisse target it will return approximately 128% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in September. Credit Suisse forecasts a full year FY09 dividend of 29.00 cents and EPS of 52.60 cents. At the last closing share price the estimated dividend yield is 12.50%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.41.