CGC - UBS rates as Buy
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A tour of Costa's berry and avocado operations in FNQ did nothing to alter the broker's belief FY18 guidance is conservative. The broker forecasts strong growth in both categories over the next five years, helping Costa to realise its ambition of 52-week supply of all categories.
China provides longer term upside potential. Buy and $7.50 target retained.
Sector: Food, Beverage & Tobacco.
Target price is $7.50.Current Price is $7.84. Difference: ($0.34) - (brackets indicate current price is over target). If CGC meets the UBS target it will return approximately -5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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