DJS - Credit Suisse rates the stock as Downgrade to Neutral
BY BROKER NEWS - 18/03/2010
Get More Commentary, Dicussion & Market Information On -
• DJS - DAVID JONES LIMITED
Interim earnings were solid in the broker's view, the $100.5m net profit meeting its forecasts and showing good performance on gross margins and productivity.
Post the result the broker makes minor changes to its numbers and doesn't expect an upgrade cycle until FY11.
Given a lack of short-term catalysts at present the broker sees the stock as fair value and to reflect this it downgrades to a Neutral rating.
Sector: Retailing.
Target price is $5.50.Current Price is $5.13. Difference: $0.37 - (brackets indicate current price is over target). If DJS meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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