March quarter and unity netbook growth of $344m was slightly ahead of UBS estimates as the company benefited from stronger sales in Japan.
The broker finds the net implications for earnings per share in FY17 slightly negative and while a higher mix of long-duration sales should assist the outer years this already appears priced in. Neutral. Target is $11.05.
Sector: Diversified Financials.
Target price is $11.05.Current Price is $12.62. Difference: ($1.57) – (brackets indicate current price is over target). If CGF meets the UBS target it will return approximately -14% (excluding dividends, fees and charges – negative figures indicate an expected loss).