TOX – Morgan Stanley rates the stock as Equal-weight

By Broker News | More Articles by Broker News

Related Companies

Morgan Stanley believes the acquisition of Daniels diversifies the company’s earnings away from resources and increases the quality.

Nevertheless, guidance for the organic business is now towards the lower end of its original range of 5-10% growth, driven by continued pressure on west coast services to the oil & gas sector.

This is expected to weigh on the near term upside for the stock. Equal-weight rating, $2.65 target and In-Line sector view retained.

Sector: Commercial Services & Supplies.

Target price is $2.65.Current Price is $2.40. Difference: $0.25 – (brackets indicate current price is over target). If TOX meets the Morgan Stanley target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

RELATED COMPANIESTagged
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 →