Tag: CAJ

Credit Suisse suggests the closure of the Fowler Simmons transaction just ahead of the current crisis puts the focus on the balance sheet at a time when it was showing some sign of turning around.

First-half results were in line but Credit Suisse finds more positives have flowed. The broker believes the update, which showed improvement across organic growth and cash flow, serves as a first step in justifying a re-rating process that has some way to go.

In a consolidating market, Credit Suisse foresees material upside in both a stand-alone and merger scenario for the company. The broker expects only modest improvement in growth in the second half relative to a weak first half but believes the issues are transient, such as bottlenecks in Victoria.