Eclipx’ result was in line with the broker’s forecasts but ahead of the prospectus. Earnings being supported by strong momentum in new businesses, expansion into new product lines and ongoing improvements in operating leverage, the broker notes.
The broker thus expects strong multi-year earnings growth. Outperform retained, target rises to $3.35 from $3.30.
Sector: Diversified Financials.
Target price is $3.35.Current Price is $3.06. Difference: $0.29 – (brackets indicate current price is over target). If ECX meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).