The recent strategy briefing impressed UBS. The company is one of the few to lift guidance, UBS observes, tightening the profit range to 8.5-10% growth from 7-10%.
The broker expects mid single digit growth over FY17-20, underpinned by new business in the fleet segment. A Buy rating is retained. Target rises to $3.84 from $3.50.
Sector: Diversified Financials.
Target price is $3.84.Current Price is $3.70. Difference: $0.14 – (brackets indicate current price is over target). If ECX meets the UBS target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).