FXL – Deutsche Bank rates the stock as Buy

By Broker News | More Articles by Broker News

CEO Tarek Robbiati will step down to move overseas later this year. The company has reaffirmed FY15 guidance of $90-91m.

The departure of the CEO less than three years into the role is disappointing to Deutsche Bank as the company is part way through a growth strategy.

A Buy rating and $4.30 target are maintained.

Sector: Diversified Financials.

Target price is $4.30.Current Price is $3.17. Difference: $1.13 – (brackets indicate current price is over target). If FXL meets the Deutsche Bank target it will return approximately 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →