ALS - Credit Suisse rates the stock as Outperform
BY BROKER NEWS - 29/07/2010
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• ALS - ALESCO CORPORATION LIMITED
The company formally released results for FY10 yesterday, confirming FY10 had been difficult with falling volumes, margin contraction and impairment charges.
Post the result the broker makes relatively minor changes to forecasts, which have no impact on its price target. Earnings growth is still expected in FY11 as the company's cycle improves, so the broker retains its Outperform rating.
Sector: Capital Goods.
Target price is $3.52.Current Price is $2.52. Difference: $1.00 - (brackets indicate current price is over target). If ALS meets the Credit Suisse target it will return approximately 28% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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