CPB - Credit Suisse rates the stock as Outperform
BY BROKER NEWS - 11/03/2010
Get More Commentary, Dicussion & Market Information On -
• CPB - CAMPBELL BROTHERS LIMITED
The broker notes recent ABS data shows a solid increase in recent months in total exploration spending and metres drilled in Australia, which it sees as evidence of a positive earnings outlook for the company.
The growth in company earnings is expected to begin in FY11 and with the stock trading on a 10% discount to its international peer average P/E for FY11 and 20% for FY12 there is no change to the broker's Outperform rating.
Sector: Commercial Services & Supplies.
Target price is $36.30.Current Price is $28.85. Difference: $7.45 - (brackets indicate current price is over target). If CPB meets the Credit Suisse target it will return approximately 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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