BXB - Credit Suisse rates the stock as Outperform
PUBLISHED
2021-12-08
Content
Brambles reports in USD but has exposures to many currencies through its global operations, Credit Suisse notes. The broker adjusts earnings forecast down to reflect recent USD strength.
But having fallen over -14% since its investor day on concerns over pallet contagion and increased spending for earnings growth, Brambles is offering an attractive entry point, the broker believes, before focus moves to FY23 and beyond earnings growth.
No change to the Outperform rating or $13.25 target.
Sector: Commercial & Professional Services.
Target price is $13.25.Current Price is $10.50. Difference: $2.75 - (brackets indicate current price is over target). If BXB meets the Credit Suisse target it will return approximately 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).