CKF – Deutsche Bank rates the stock as Buy

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Deutsche Bank rates the stock as Buy

The 1H result was pretty much in line with the broker, who notes sales came in a little better, but margins were a little softer. Sales momentum did improve, however, although the broker notes the market remains highly competitive and margins will remain under pressure.

There are some modest adjustments to forecasts, with the company otherwise confirming its FY13 guidance. The Buy call and price target are maintained.

Sector: Consumer Services.

Target price is $1.50. Current Price is $1.29. Difference: $0.21 – (brackets indicate current price is over target). If CKF meets the Deutsche Bank target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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