Tassal (TGR.AU) maintained at Buy with price objective
of A$5.00 vs yesterday's close at A$1.85, says Merrill Lynch.
TGR "a compelling investment", net profit in FY09 expected around A$30 million, a sixfold increase from FY05, then zooming to A$70 million in FY15 as strategy unfolds; this earnings profile supported by favorable industry structure, management capability that make TGR "one of our preferred small cap bids".
Delivering guidance of A$30 million quite important for TGR as it will reinforce what has been to date a skeptical market "that there is a step change in earnings profile currently under way," says Merrill Lynch
Tassal (TGR.AU) maintained at Buy with price objectiveof A$5.00...
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