CIM – Deutsche Bank rates the stock as Hold

By Broker News | More Articles by Broker News

Management has confirmed FY19 guidance for net profit of $790-840m. The company achieved 5% net profit growth in the first quarter, in line with the implied guidance range of 1-8%.

Management has noted construction and services are gaining momentum and the mining sector is strengthening.

Deutsche Bank maintains a Hold rating and $46.15 target.

Sector: Capital Goods.

Target price is $46.15.Current Price is $49.36. Difference: ($3.21) – (brackets indicate current price is over target). If CIM meets the Deutsche Bank target it will return approximately -7% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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 →