JP Morgan 17/12/2010 3 Neutral $1.37 - 18.9%With approval now...

JP Morgan 17/12/2010 3 Neutral $1.37 - 18.9%
With approval now granted in NZ for the Sucrogen acquisition, the broker is assuming completion and has thus reduced forecast earnings by 4%, 16% and 13% in FY11-13 and dropped its target to $1.37 from $1.85. CSR has announced it will return $800m to shareholders in some split of capital return and special dividend.


Target price is $1.37 Current Price is $1.70 Difference: minus $0.33 (current price is over target).
If CSR meets the JP Morgan target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).