RBS Australia rates CPB as Upgrade to Buy from Hold.Target...

RBS Australia rates CPB as Upgrade to Buy from Hold.

Target $69.76 (was $68.04).

With the company set to report FY results next week, the broker notes that what has been a fairly indiscriminate macro fear driven sell off has provided a pretty good buying opportunity here.
With the broker expecting some upbeat outlook commentary with the result, the recommendation is lifted to Buy from Hold.

Target price is $69.76 Current Price is $57.85 Difference: $11.91 If CPB meets the RBS Australia target it will return approximately 21% (excluding dividends, fees and charges).

The company's fiscal year ends in March. RBS Australia forecasts a full year FY12 dividend of 215.00 cents and EPS of 332.50 cents . At the last closing share price the estimated dividend yield is 3.72%.