ACF – Morgans rates the stock as Add

FY19 results were below expectations. Morgans is encouraged by some projects which are coming on line and likes the outlook for civil infrastructure activity on the east coast, although project timing remains uncertain.

Over the medium term the business is well-positioned for growth and the broker maintains an Add rating. Target is reduced to $0.34 from $0.40.

Sector: Capital Goods.

Target price is $0.34.Current Price is $0.28. Difference: $0.06 – (brackets indicate current price is over target). If ACF meets the Morgans target it will return approximately 18% (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 →