EHL - Morgans rates the stock as Add
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Morgans observes the completion of contract mining operations (lower margin) was the driver for increased profitability in the second quarter. Operating earnings were up 15%, at a margin of 43% versus a margin of 35% in the first quarter.
The company remains positive on the Force acquisition and integration appears to be going well. Morgans remains comfortable with FY18 and FY19 forecasts and maintains an Add rating and $0.33 target.
Sector: Capital Goods.
Target price is $0.33.Current Price is $0.27. Difference: $0.06 - (brackets indicate current price is over target). If EHL meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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