GNC 0.98% $9.09 graincorp limited

opportunity, page-6

  1. 2,602 Posts.
    JP Morgan 20/11/2009 1 Overweight $8.20 25.8%
    The broker is forecasting a full year profit of $62.4m, which it notes is in line with guidance from management.

    Guidance for 2010 should be for solid earnings growth and leading into the result the broker maintains its Overweight rating on the stock.

    Credit Suisse 18/11/2009 1 Outperform $10.00 53.4%
    Having been restricted the broker has now resumed coverage with an Outperform rating and $10.00 price target, down from $10.72 previously.

    The company's competitive position in domestic markets continues to improve and in the broker's view this is not reflected in the share price, which supports its positive rating.

    Supporting this is its estimate the stock is trading on a FY10 earnings multiple of just 7.7 times at present.

 
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