This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Strong share price reversal from September, with major breakout today. Company still simplifying itself with disposals. Current share buyback is supportive for shares. Potential benefit from lower US tax rate.
Consensus is skewed negative, which may see some brokers upgrade given the shares’ 30% rebound. Especially having rallied above the average broker target in mid-October, and with two thirds of brokers still with targets below the current share price. Revisions required? Even the latest revised broker targets have already been hit.
Next Event: Trading update, Jan; FY results, Feb
Latest Broker 12-Month Consensus: 23% Buy, 36% Hold, 41% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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