3PL - Macquarie rates as Outperform
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First half operating earnings were ahead of estimates. Macquarie observes the valuation gap has now narrowed and there is latent value in the stock amid options from the product roll out.
The broker suggests investor attention will increasingly turn to licence/product growth in FY19. Outperform rating maintained. Target raised to $1.79 from $1.25.
Sector: Consumer Services.
Target price is $1.79.Current Price is $1.62. Difference: $0.17 - (brackets indicate current price is over target). If 3PL meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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