Merrill Lynch report for BBP just out. Rating Neutral. Price objective $1.45/. They agree that this is the best thing for the company to have done right now.
"Divi restructure makes a lot of sense in our view
Like TCL, BBP has bit the bullet and cut its distributions to free cash flow which makes sense to us given how tightly geared BBP is. We have cut our FY09 distribution to 14 cps from 17 cps which is in BBP’s guidance range (13-18 cps).
Watch for BBP to follow with asset sales or an equity raise as part of its capital mgt program."
Link: http://www.box.net/shared/ioopjhhus8
- Forums
- ASX - By Stock
- BBP
- sp tomorrow
sp tomorrow, page-7
-
- There are more pages in this discussion • 45 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
AVH
Avita boosts skin restoration product portfolio with 'dermal matrix' – a kind of next-level gauze made of fake skin
STX
Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla
MND
Albemarle lithium downsize burns $200M hole in Monadelphous's pocket as latter's contracts terminated