symex holdings - a buy?

"Symex Holdings a "buy" ..

A Melbourne based broker in a detailed report says Symex Holdings is a"buy" - trading at a 21 per cent discount to the broker's target price of $1.70 and a yield of 4.5 per cent fully franked. After an extremely challenging couple of years, the broker says, Symex now owns a substantial consumer goods business in the Pental Personal Wash business with development of its brand portfolio to be a major driver of profits within the business. However the specialty chemicals business remains the major profit driver for Symex. Recent capacity upgrades combined with an improvement in trading conditions will positively impact full year 2004 earnings. SYM down 1c to $1.24"