McMillan Shakespeare’s latest update cites higher recovery in novated lease sales and growth in Plan Partners as reasons for experiencing better than expected conditions.
The company expects higher than forecast first-half net profit after tax, with performance in the second half expected to be along similar lines.
The outlook for FY22 is positive, suggests Credit Suisse, and assumes a more normalised vehicle supply that will help in volume growth.
Outperform with target rising to $14 from $12.85.
Sector: Commercial & Professional Services.
Target price is $14.00.Current Price is $12.68. Difference: $1.32 – (brackets indicate current price is over target). If MMS meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
