latest ratings

Macquarie 01/09/2009 1 Resumption of Coverage - Outperform $1.50 3.3%
The broker is back after acting for Transpacific in its long running quest for new capital.

Although TPI's reputation has clearly been undermined, the new cornerstone investor brings a new start, the broker suggests. TPI is now highly leveraged to economic recovery but will probably need two years to see real results, the broker suggests. However, the market will likely start pricing that in early.

Hence it's an Outperform, with a fresh target of $1.50.

JP Morgan 27/08/2009 3 Neutral $1.33 - 9.0%
Target $1.33 (was $1.30). Earnings matched recent guidance for the year and management's outlook comments were upbeat in the broker's view.

It is not as convinced about the outlook for the company however and post minor changes to its estimates on the back of the result, the broker retains its Neutral rating.

UBS 27/08/2009 3 Neutral $1.35 - 7.4%
More or less in line UBS says, leading to only minor earnings revisions for FY10, but FY10 rise by 7% and FY12 by 9%, due to higher revenue expectations.

Few short term catalysts seen on the horizon, UBS adds.

Target rises 10c to $1.35.

Deutsche Bank 27/08/2009 3 Hold $1.45 0%
Transpacific's result was below the new prospectus level but the broker continues to believe earnings will improve.

The balance sheet is now okay with the cornerstone investor in place and advantage can thus be taken of economic recovery. Nevertheless the broker believes the market has already valued TPI on too high a multiple and thus retains Hold.

RBS Australia 27/08/2009 1 Buy $2.11 31.3%
Target $2.11 (was $1.99). Full year earnings met the broker's expectations and the outlook for better conditions in the coming half should help with reducing debt and better managing cash flows in its view.

Post updates to its forecasts the broker has lifted its price target and there is no change to its Buy rating on the stock.

Aspect Huntley 30/07/2009 3 Downgrade to Hold from Accumulate - -
Update database.

Credit Suisse 10/07/2009 3 Neutral $1.40
25 Aug 09
- 3.6%
In the broker's view there remains more questions than answers in relation to the group's recapitalisation proposal and so it will look for the prospectus to try and find more details about the group's future.

In the meantime the broker remains Neutral on the stock.