REH – Morgans rates the stock as Downgrade to Hold from Add

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Following recent share price strength, amid expectations of a cyclical upswing, Morgans downgrades to Hold from Add.

Estimates for earnings per share in FY20 are reduced by -7%, to reflect lower local demand and revised appreciation assumptions. Target is raised to $12.45 from $11.47.

Sector: Capital Goods.

Target price is $12.45.Current Price is $11.43. Difference: $1.02 – (brackets indicate current price is over target). If REH meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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