While the result was in line with expectations, the analysts have lifted their FY10 earnings forecasts by 8% and FY11 by 25% to reflect a higher AUD, UBS says. Although the stock has risen recently, UBS retains its Buy recommendation as valuation is still seen as attractive with short term earnings expected to drive more outperformance in FY10.
Target rises 35c to $1.35. Sector: Retailing.
Target price is $1.35.Current Price is $1.32. Difference: $0.03 - (brackets indicate current price is over target). If PBG meets the UBS target it will return approximately 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
PBG Price at posting:
$1.15 Sentiment: None Disclosure: Not Held
