IRE – Credit Suisse rates the stock as Neutral

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Credit Suisse remains broadly positive about the company’s UK operations, highlighting supportive industry conditions for advice/wealth software amid likely consolidation in advice that is aligned to the company’s focus.

The stock has outperformed the ASX200 in the year to date, up 26.8%, but the broker concedes merit in both the supporters and detractors of the stock. Neutral rating maintained. Target is raised to $14.05 from $13.30.

Sector: Software & Services.

Target price is $14.05.Current Price is $14.14. Difference: ($0.09) – (brackets indicate current price is over target). If IRE meets the Credit Suisse target it will return approximately -1% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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