Morgan Stanley note to clients released friday 1/7/11
July 1, 2011 Goodman Group (GMG.AX) Research Tactical Idea We believe the share price will rise in absolute terms over the next 60 days. This is because the stock has traded off recently, making short term valuation much more compelling. We believe recent pressure on the stock is overdone. With 7.9% EPS growth expected in 2012 and continued positive newsflow (such as yesterday's announced deal with CPPIB), we believe the stock will trade up in the next 60 days. We estimate that there is about an 80%+ or "highly likely" probability for the scenario. Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the scenario. Stock Rating: Overweight Industry View: In-Line Morgan
GMG Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
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