CCL – Credit Suisse rates the stock as Neutral

By Broker News | More Articles by Broker News

The second half of 2018 was a little weaker than Credit Suisse forecast. There is no change to guidance and 2019 remains a transition year as the company invests in Australian selling capacity and increases marketing expenditure in Indonesia.

The second half weakness appears to relate to still beverages, as the company’s business was put on EDLP with key supermarkets. Credit Suisse maintains a Neutral rating and $8.90 target.

Sector: Food, Beverage & Tobacco.

Target price is $8.90.Current Price is $8.27. Difference: $0.63 – (brackets indicate current price is over target). If CCL meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).

RELATED COMPANIESTagged

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →