Z1P – Citi rates the stock as Upgrade to Neutral from Sell

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Citi notes increasing competition does not appear to have affected customer usage or margins in the company’s October trading update. Yet the broker continues to envisage downside risk to medium-term growth forecasts and margins from competition.

As the stock is down -22% since the beginning of September the rating is upgraded to Neutral/High Risk from Sell/High Risk. Target is raised to $6.70 from $6.55.

Sector: Diversified Financials.

The target price is $6.70. The current Price is $6.26. Difference: $0.44 – (brackets indicate current price is over target). If Z1P meets the Citi target it will return approximately 7% (excluding dividends, fees, and charges – negative figures indicate an expected loss).

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