Citi came out and retained a buy today - but dropped the target price from 69c to 40c
Part of the downgrade was reasonable, lower earnings with the contract changes. But the analyst added in a triple whammy, in that he/she used a lower PE rating for small caps as the basis for the SSM valluation, increased the SSM "discount" from 20% too 40%, and then applied the lower forecast SSM earnings
Talk about forcing a target price to somewhere near the current market - heard of DCF?
Anyhow I still see value here, but clearly the outlook isn't as good as a week ago.
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Last
$1.91 |
Change
-0.035(1.80%) |
Mkt cap ! $1.179B | |||
| Open | High | Low | Value | Volume |
| $1.94 | $1.95 | $1.91 | $308.5K | 160.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 4337 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.92 | 4808 | 6 |
View Market Depth
| Last trade - 10.52am 26/06/2025 (20 minute delay) ? |
| SSM (ASX) Chart |