Credit Suisse maintains its Neutral rating with the target price rising to $74 from $71.
ASX’s trading activity in March was stronger than Credit Suisse expected led by the strong trading activity of cash equities which appears to have bottomed in the broker’s view.
While -20% down over last year, the daily average turnover was up slightly compared to the first half.
Even with activity tracking better than anticipated, the broker believes a positive case could be mounted for longer-term investors where this could be a reasonable entry point for a high-quality business that is seeing cyclically depressed revenues in some areas.
Sector: Diversified Financials.
Target price is $74.00.Current Price is $72.36. Difference: $1.64 – (brackets indicate current price is over target). If ASX meets the Credit Suisse target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
