upgrade from ba

good news!
Prime Infra has fallen near 30% since its IPO last month, the broker notes, with Australian instos showing little interest. That's probably because of the BB stigma. Investors may wait until the first results are in, the broker suggests.

In the meantime, the broker has used a conservative discounted cash flow approach to arrive at a valuation of $4.37 - a good 80c over the last traded price. On that basis, the broker has upgraded to Buy.