CIM - Deutsche Bank rates the stock as Sell
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First quarter net profit was up 23% in the company has confirmed FY17 net profit guidance of $640-700m. Historically, Deutsche Bank notes the first quarter is a seasonally weak quarter and has accounted for 19-24% of full year net profit.
Sell rating and $31.39 target retained.
Sector: Capital Goods.
Target price is $31.39.Current Price is $36.42. Difference: ($5.03) - (brackets indicate current price is over target). If CIM meets the Deutsche Bank target it will return approximately -16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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