CWY - Morgans rates the stock as Upgrade to Add
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The CEO has highlighted the robust and growing revenue, operating leverage and a strong balance sheet. Morgans revises its forecasts to align with the company's expectations. This results in around 2% upgrades to FY19-20 forecasts.
As well as a change in valuation methodology, this lifts the target to $1.60 from $1.37. The broker upgrades to Add from Hold given the positive momentum being generated.
Sector: Commercial Services & Supplies.
Target price is $1.60.Current Price is $1.47. Difference: $0.14 - (brackets indicate current price is over target). If CWY meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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