CTD - Morgan Stanley rates as Overweight
Get More Commentary, Discussion & Market Information On -
While acknowledging the headwinds from a stronger Australian dollar, Morgan Stanley is confident in an upgrade to guidance in FY18 as the company's trading multiple, admittedly demanding at times, has de-rated.
The broker notes the exceptional operating leverage and under-stated momentum. The company also has a track record of delivering earnings upgrades.
Morgan Stanley retains an Overweight rating, In-Line industry view and $24.00 target.
Sector: Consumer Services.
Target price is $24.00.Current Price is $21.54. Difference: $2.46 - (brackets indicate current price is over target). If CTD meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
FN Arena is building the future of financial news reporting at www.fnarena.com. Our daily news reports can be trialed at no cost and with no obligations. Simply sign up & get a feel for what we are trying to achieve.
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.