CIMB argues that simplifying the corporate structure and settling the ATO tax dispute, has made SYD now a more attractive investment opportunity for potential investors. The broker talks about a "robust" growth outlook.
Price target lifts to $3.83 (was $3.49) on slightly higher forecasts. The dividend on offer sits around 6.3% and CIMB has decided to upgrade to Outperform from Neutral.
Target price is $3.83.Current Price is $3.60. Difference: $0.23 – (brackets indicate current price is over target). If SYD meets the CIMB Securities target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).