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API - Morgan Stanley rates the stock as Underweight
BY BROKER NEWS - 21/04/2017 | VIEW MORE BROKER UPDATES

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API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED


Morgan Stanley observes challenging conditions in Australian retail have detracted from an otherwise reasonable first half result. Retail network sales were up 2% with comparable store retail sales up 0.4%. Gross profit grew 4.5%.

While acknowledging the strong performance the broker deems the share price is a hurdle to becoming more constructive on the stock. Underweight rating and In-Line industry view retained. Target drops to $1.86 from $1.88.

Sector: Health Care Equipment & Services.

Target price is $1.86.Current Price is $2.05. Difference: ($0.19) - (brackets indicate current price is over target). If API meets the Morgan Stanley target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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