Broker Alerts Archive

Macquarie rates NHC as Underperform

Thursday, May 19, 2016 - 10:49

On the back of the broker's economics team's reduced interest rates forecasts, the broker has lowered both its A$ forecasts and its assumed risk-free rate by 50bps to 3.25%. A lower A$ improves earnings forecasts for commodity exporters, while a lower rate improves valuations.

New Hope's target rises to $1.10 from $1.00. Underperform retained.

Target price is $1.10 Current Price is $1.47 Difference: minus $0.37 (current price is over target). 
If NHC meets the Macquarie target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss). 
Current consensus price target is $1.39, suggesting downside of -5.2%(ex-dividends)
The company's fiscal year ends in July.

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Macquarie rates NHC as Underperform

Thursday, May 19, 2016 - 10:49

On the back of the broker's economics team's reduced interest rates forecasts, the broker has lowered both its A$ forecasts and its assumed risk-free rate by 50bps to 3.25%. A lower A$ improves earnings forecasts for commodity exporters, while a lower rate improves valuations.

New Hope's target rises to $1.10 from $1.00. Underperform retained.

Target price is $1.10 Current Price is $1.47 Difference: minus $0.37 (current price is over target). 
If NHC meets the Macquarie target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss). 
Current consensus price target is $1.39, suggesting downside of -5.2%(ex-dividends)
The company's fiscal year ends in July.

FNArena

Ord Minnett rates MIL as Buy

Thursday, May 19, 2016 - 10:48

Ord Minnett observes the company started poorly in terms of investor relations but has recognised the need to improve its performance. A new CFO has been hired and the broker believes this is a positive step.

The company has made no mention of guidance and the broker presumes it is on track to achieve its FY16 prospectus forecasts of $13.3m in earnings. The broker believes the organic growth potential remains but the route to gaining investor confidence can take time.

Multiples for a defensive business are low and Ord Minnett suspects, given sentiment is being addressed, that this represents a buying opportunity. The Buy rating is retained. Target falls to $1.95 from $2.34.

Target price is $1.95 Current Price is $1.54 Difference: $0.415 
If MIL meets the Ord Minnett target it will return approximately 27% (excluding dividends, fees and charges). 
The company's fiscal year ends in June.

FNArena

Macquarie rates ILU as Underperform

Thursday, May 19, 2016 - 10:47

On the back of the broker's economics team's reduced interest rates forecasts, the broker has lowered both its A$ forecasts and its assumed risk-free rate by 50bps to 3.25%. A lower A$ improves earnings forecasts for commodity exporters, while a lower rate improves valuations.

Iluka's target rises to $5.30 from $5.25. Underperform retained.

Target price is $5.30 Current Price is $5.93 Difference: minus $0.63 (current price is over target). 
If ILU meets the Macquarie target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss). 
Current consensus price target is $6.01, suggesting upside of 1.4%(ex-dividends)
The company's fiscal year ends in December.

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Macquarie rates FMG as Outperform

Thursday, May 19, 2016 - 10:45

On the back of the broker's economics team's reduced interest rates forecasts, the broker has lowered both its A$ forecasts and its assumed risk-free rate by 50bps to 3.25%. A lower A$ improves earnings forecasts for commodity exporters, while a lower rate improves valuations.

Fortescue's target rises to $3.50 from $3.30. Outperform retained.

Target price is $3.50 Current Price is $3.11 Difference: $0.39 
If FMG meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges). 
Current consensus price target is $2.97, suggesting downside of -4.5%(ex-dividends)
The company's fiscal year ends in June.

FNArena