OPC – Morgans rates the stock as Hold

By Broker News | More Articles by Broker News

Related Companies

Uniti Group ((UWL)) has revised its OptiComm offer to $5.85, which consists of $4.835 in cash (including the $0.10 dividend) plus 0.80537 Uniti Group shares per 1 OptiComm share. The Uniti Group share component was valued at $1.01 (using a $1.26 Uniti Group share price).

First State Super (FSS) has until 18 September to make a formal offer, its current one being highly conditional.

The OptiComm board recommends in favour of Uniti Group.

Morgans continues to recommend holding to see what happens next. The broker notes the Uniti Group’s 19.5% stake in OptiComm will make thinks harder for First State Super. An increase in Uniti Group’s share price increases the offer price.

The Hold rating is unchanged and the target price is increased to $5.85 from $5.10.

Sector: Telecommunication Services.

The target price is $5.85. The current Price is $6.00. Difference: ($0.15) – (brackets indicate current price is over target). If OPC meets the Morgans target it will return approximately -3% (excluding dividends, fees and charges – negative figures indicate an expected loss).

RELATED COMPANIESTagged
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 →