AHY – Macquarie rates the stock as Resume Coverage with Neutral

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The company has completed the sale of its Australian consumer tissue business. Macquarie estimates transaction costs, environmental indemnity and working capital variation of $30-40m.

Asaleo retains the Australasian personal care and B2B operations as well as the consumer tissue business in New Zealand and the Pacific Islands. Macquarie resumes coverage with a Neutral rating and $0.84 target.

Sector: Household & Personal Products.

Target price is $0.84.Current Price is $0.87. Difference: ($0.03) – (brackets indicate current price is over target). If AHY meets the Macquarie target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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