FN Arena Broker Call Headlines - 20 Jul 2012

Reported by FN Arena
Friday, July 20, 2012

Currency Converter

Katy Perry. (Getty)Most generous celebritiesThe rich and famous stars who give their money to charity

- PAPERLINX LIMITED

JP Morgan rates as Underweight (5) - On the back of further asset sales the broker has made minor revisions to earnings estimates for PaperlinX. Price target is unchanged.

While the asset sale program is making progress the group's balance sheet remains constrained, so JP Morgan retains an Underweight rating.

More

- AUSTRALAND PROPERTY GROUP

JP Morgan rates as Neutral (3) - Target $3.00 (was $2.97). More conservative residential volume and price assumptions see JP Morgan push through minor changes to earnings estimates. Price target is also adjusted.

At current share price levels the broker retains a Neutral rating.

More

- APA GROUP

Citi rates as Neutral (3) - The broker notes the ACCC is ok with the company's planned takeover of the Hastings Diversified Utilities Fund as long as sells the Moomba to Adelaide Pipeline System first. Citi thinks this shouldn't be a problem.

However, the broker notes it's not a done deal just yet as there is another bidder in the race offering a higher price. The broker expects will end up having to pay around $2.50 per share in cash and scrip.The Neutral call, price target and forecasts are maintained pending more progress on the acquisition.

More

- PANAUST LIMITED

Macquarie rates as Outperform (1) - June quarter production was a little below the broker's forecast and changes to assumed mill throughput and grade expectations see minor changes to Macquarie's model. Price target is unchanged.

Full year production guidance should still be met and so Macquarie retains an Outperform rating on the stock.

More

- FLEETWOOD CORPORATION LIMITED

RBS Australia rates as Buy (1) - Target $13.99 (was $13.72). The broker notes the company has picked up the the rights to design, build and manage a workers accommodation village in South Hedland.

The news adds 4% to the broker's FY14F EPS forecast and should bring investment returns to around 16%. Citing a strong recurring revenue stream and a dependable dividend, the broker thinks the stock deserves to trade at a premium, especially given strong mid to long term outlooks. Buy call maintained.

More

- REGIS RESOURCES LIMITED

Deutsche Bank rates as Buy (1) - Target $4.85 (was $4.75). Post a site visit Deutsche has made minor changes to earnings estimates and lifted its price target for Regis.

Production could hit 400,000 ounces per year by FY14 in the broker's view and this upside potential sees no change in Buy rating.

More

- PRIMARY HEALTH CARE LIMITED

UBS rates as Buy (1) - Target $3.50 (was $3.65). Ongoing  pathology revenue cuts and the prospect of more see the broker trim its earnings forecasts and price target. Buy call maintained.

More

- SONIC HEALTHCARE LIMITED

UBS rates as Neutral (3) - Target $12.82 (was $13.00). Ongoing  pathology revenue cuts and the prospect of more see the broker trim its earnings forecasts and price target. Buy call maintained.

More

Keep reading - next article
25/05/2013 02:58Sydney, Australia. 25 May,2013
advertisement