ASX’s November trading activity was broadly in line with Credit Suisse’s forecasts and the broker’s revenue forecasts remain largely unchanged.
While ASX benefited from higher activity and above-trend revenue growth in FY20, Credit Suisse expects revenue growth to be minimal in FY21.
Credit Suisse reiterates its Underperform rating. Target is $73.
Sector: Diversified Financials.
Target price is $73.00.Current Price is $77.64. Difference: ($4.64) – (brackets indicate current price is over target). If ASX meets the Credit Suisse target it will return approximately -6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
