Credit Suisse found the ASX’s December trading activity update (slightly) weaker-than-projected, and therefore the current share price is considered too expensive.
Earnings estimates have been sliced, which pulls back the price target to $71 from $73. Credit Suisse reiterates its Underperform rating.
Sector: Diversified Financials.
Target price is $71.00.Current Price is $73.20. Difference: ($2.20) – (brackets indicate current price is over target). If ASX meets the Credit Suisse target it will return approximately -3% (excluding dividends, fees and charges – negative figures indicate an expected loss).