WEB – RBS Australia rates the stock as Buy

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Target $2.00 (was $1.74). The broker notes the company has enjoyed a stronger than expected first quarter to FY10 and to reflect this, it lifts its forecasts by 14% in FY10 and 20% in FY11. The changes push up the broker’s price target on the stock, and with good value on offer given a P/E of around 11.6x for FY10 and a yield of better than 7%, it retains its Buy rating. Sector: Consumer Services.

Target price is $2.00.Current Price is $1.52. Difference: $0.49 – (brackets indicate current price is over target). If WEB meets the RBS Australia target it will return approximately 24% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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