0914 [Dow Jones] STOCK CALL: Virgin Blue (VBA.AU) upgraded to Buy from Underperform by Merrill Lynch despite cutting earnings forecasts for FY09 and FY10 by 9% and 33% respectively due to lower yield forecasts and despite slight cut to fuel price forecasts. Expects VBA to secure funding for VAustralia's first three Boeing 777 aircraft in coming weeks, and raises valuation to 59 cents from 55 cents after asset backing boosted by fall in AUD/USD rate. VBA last 40 cents
Sounds good to me, let's hope this news drives some upward momentum in the SP.
VBA Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
