Eclipx's End-of-Lease Gains Likely 'Higher for Longer' -- Market Talk(Dow Jones) -- 0152 GMT - Novated-leasing specialist Eclipx's commentary to shareholders at its annual meeting reinforces Morgan Stanley's bullish stance toward companies in the auto sector. Investors may be tempted to look through the profit boost for Eclipx from selling vehicles at the end of leases, but MS thinks that would be wrong. It expects gains from leases ending to stay high for longer, and raises Eclipx's FY 2021 net profit forecast up by 7% to A$56.7 million and for FY 2022-FY 2023 by 2%-4%. "We believe this is a continuing positive for balance sheet strength (net corporate debt now less than 1 times FY 2020 core Ebitda)." MS raises its price target by 24% to A$2.60/share. Eclipx is unchanged at A$2.18.
Macq also upped to $2.41
Morgan Stanley ups price target 24% to $2.60
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$3.52 |
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Mkt cap ! $858.1M | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
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