BVA – UBS rates the stock as Downgrade to Reduce 2 from Neutral 2

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A significant jump in staff costs due to relocations sees earnings cut by 47% in FY07. As these costs could continue to increase, the broker has downgraded.

Target price is $2.50. Current Price is $2.65. Difference: ($0.15) – (brackets indicate current price is over target). If BVA meets the UBS target it will return approximately -6% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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