McMillan Shakespeare (MMS) Upgraded to Buy from Neutral by Citi and to Outperform from Neutral by Macqurarie B/H/S: 3/0/1
Upgrade to Buy as Citi analysts have become a lot more comfortable with the risks surrounding the QLD government contract, while momentum is seen building.
The analysts see clearly defined organic growth opportunities with Government clients while valuation is still at a considerable discount vis-a-vis other small industrials.
Despite small reductions in core profit estimates, target price jumps by 19% to $14.33 as the 15% risk discount (QLD contract) is removed.
First half results were just below the broker’s expectations. No FY17 guidance was forthcoming, other than management’s statement that early performance on the QLD contract was solid.
Macquarie has raised FY17 and FY18 earnings estimates by 0.2% and 0.6% respectively.
The broker has upgraded the stock to Outperform from Neutral and raised the target price to $13.20 from $13.17.
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Last
$19.63 |
Change
0.300(1.55%) |
Mkt cap ! $1.367B |
Open | High | Low | Value | Volume |
$19.28 | $19.63 | $19.14 | $4.817M | 247.4K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 1555 | $19.30 |
Sellers (Offers)
Price($) | Vol. | No. |
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$19.64 | 1040 | 1 |
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No. | Vol. | Price($) |
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2 | 1555 | 19.300 |
1 | 525 | 19.040 |
1 | 1500 | 18.630 |
2 | 4000 | 18.580 |
1 | 800 | 18.550 |
Price($) | Vol. | No. |
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19.640 | 1040 | 1 |
19.800 | 800 | 1 |
19.990 | 400 | 1 |
20.000 | 1050 | 2 |
20.190 | 82 | 1 |
Last trade - 16.10pm 29/03/2024 (20 minute delay) ? |
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Last
$19.54 |
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Change
0.300 ( 1.16 %) |
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Open | High | Low | Volume | ||
$19.35 | $19.57 | $19.22 | 41068 | ||
Last updated 15.59pm 29/03/2024 ? |
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