hellMARKET TALK: MBL Has Momentum, Undemanding Valuation 11/01/05 09:15:00+
0915 [Dow Jones] STOCK CALL: CSFB says Macquarie Bank (MBL) remains its momentum pick in banking sector, with MBL experiencing strong to very strong trends in asset management, investment banking (62% of 1H FY05 earnings), mixed to positive trends in financial markets, flat to positive trends for lending in 4Q 2004. "This good underlying business momentum supplements the large number of significant items already disclosed." With stock at 17.1X FY06 earnings, valuation is undemanding. Maintains Neutral rating, A$46.00 price target; stock last A$48.86. (WES)
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