Credit Suisse retains its Neutral rating and $86 target price for ASX following the release of March quarter trading activity statistics.
While all business segments exceeded expectations, and the broker’s EPS forecasts were raised for FY22-24 by around 2%, forecasts further out were left unchanged. By not incorporating these strong activity levels, there’s expected to be potential for EPS upside.
Sector: Diversified Financials.
Target price is $86.00.Current Price is $82.69. Difference: $3.31 – (brackets indicate current price is over target). If ASX meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
