Credit Suisse downgrades to Neutral from Outperform. The share price has rallied 45% since the trough and is now approaching the broker’s target. Target is $3.20.
An equity issue is also included in forecasts in the near future as Credit Suisse suspects the board will come to realise that the balance sheet is not as well prepared for the disruption as it may have thought. However, this has a minimal effect on valuation.
Sector: Consumer Services.
Target price is $3.20.Current Price is $3.18. Difference: $0.02 – (brackets indicate current price is over target). If TAH meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).