CPU - Macquarie rates the stock as Neutral
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The company will sell its 50% interest in the Indian venture Karvy Computershare Private. Computershare expects to realise US$90m upon completion of the sale. Proceeds will be used for acquisitions or capital management.
Macquarie notes recent press reports have indicated that the successful bidder for South Australia's land titles registry will be announced in coming weeks and the company has been cited as one of the interested parties.
Neutral rating and $12.03 target retained.
Sector: Software & Services.
Target price is $12.03.Current Price is $14.19. Difference: ($2.16) - (brackets indicate current price is over target). If CPU meets the Macquarie target it will return approximately -18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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