".....2322 GMT [Dow Jones] STOCK CALL: Merrill Lynch initiates coverage of RAMS (RHG.AU) at Buy, with price objective of A$1.20, vs stock last a 69.5 cents. View is based on broker's estimate of RAMS salvage value, a 70% probability that RAMS continues as standalone franchise. "While RAMS' extendible commercial paper-related risks are real, the attraction of RAMS' underlying asset, i.e., loan book, leads us to designate a salvage value of 55 cents-82 cents if purchased by a bank, and provides us reassurance that it is well positioned to refinance its funding within the 150-days extension period." (RBT) ......"
regards,
RHG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
