GEM – Citi rates the stock as Buy, High Risk

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Target $1.12 (was $1.02). Management has lowered full year earnings guidance to reflect a dragging out of a Singapore acquisition and the broker has adjusted estimates accordingly.

The revised forecasts mean a cut in price target. G8 continues to look cheap, so Citi retains a Buy rating.

Sector: Consumer Services.

Target price is $1.02.Current Price is $0.74. Difference: $0.28 – (brackets indicate current price is over target). If GEM meets the Citi target it will return approximately 28% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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