CPU - Macquarie rates the stock as Neutral
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Computershare has lifted FY18 guidance for management earnings growth to 10% from a prior 7.5%, thanks to better than expected contributions from Corporate Actions and a growing Mortgage Services business. The broker suspects margin income has also been supportive in recent months.
Target rises to $14.86 from $14.22, but with the stock trading at a 17% PE premium to market and FY19 looking more subdued, Neutral retained.
Sector: Software & Services.
Target price is $14.86.Current Price is $15.93. Difference: ($1.07) - (brackets indicate current price is over target). If CPU meets the Macquarie target it will return approximately -7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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