The company has retained its FY16 guidance and indicated that marking to marketing has driven a stronger first half, suggesting statutory profit will be higher than Deutsche Bank expected.
Deutsche Bank still suspects the capital position is a dominant issue in the near term.The broker retains a Hold rating and raises the target to $7.85 from $7.75.
Sector: Diversified Financials.
Target price is $7.85.Current Price is $7.34. Difference: $0.51 – (brackets indicate current price is over target). If CGF meets the Deutsche Bank target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).