CPU - Morgans rates the stock as Hold
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First half results were ahead of expectations. The company has upgraded FY18 guidance again, Morgans notes. The main positive was the mortgage servicing business which delivered around 9% revenue growth, including around 16% from the US mortgage servicing component.
Morgans upgrades FY18 and FY19 estimates by around 1% and 5% respectively on improved revenue/margin assumptions for both years. Target rises to $16.23 from $15.17. Hold rating maintained.
Sector: Software & Services.
Target price is $16.23.Current Price is $17.29. Difference: ($1.06) - (brackets indicate current price is over target). If CPU meets the Morgans target it will return approximately -7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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