jp morgan target $1.06

AFR Thursday 28 June.

JP Morgan believes PaperlinX’s balance sheet remains “highly stressed” despite the cost-cutting measures. The broker reduced its share price target to $1.06. “We forecast a 2011-12 financial year net debt of $190 million .?.?. more than four times the current market cap of the company,” it said. Goldman Sachs has maintained its “sell” rating because it does not expect any short- term catalyst outside of an improvement in European operating conditions.

Anyone got access to this report?

Thanks