It is Deutsche Bank’s view that Sonic’s interim report contained the ingredients to show investors this is a great quality company that remains undervalued. The stockbroker thus retains a positive view, with estimates raised despite Sonic’s H1 profits missing the mark.
Currencies remain a drag for the company, the analysts acknowledge. Their price target has lifted to $12.50 from $12.30 prior.
Target price is $12.50.Current Price is $11.38. Difference: $1.12 – (brackets indicate current price is over target). If SHL meets the Deutsche Bank target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).