SVW - Deutsche Bank rates the stock as Hold
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The sale of Westrac China and consolidation of Coates increases the company's exposure to Australian industrial and resources services, at what Deutsche Bank observes is the early stages of a cyclical upswing.
Coates exposure to east coast infrastructure should also deliver strong growth over the medium term. Deutsche Bank envisages upside risks to near-term earnings.
Hold retained. Target rises to $12.60 from $12.50.
Sector: Capital Goods.
Target price is $12.60.Current Price is $12.28. Difference: $0.32 - (brackets indicate current price is over target). If SVW meets the Deutsche Bank target it will return approximately 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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