Australian Broker Call
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January 05, 2021
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1).
Last Updated: 03:09 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| CCP - | Credit Corp | Downgrade to Hold from Add | Morgans |
CCL COCA-COLA AMATIL LIMITED
Food, Beverages & Tobacco
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Overnight Price: $12.94
Citi rates CCL as Neutral (3) -
Coca-Cola Amatil shares are trading at a small premium towards the offer from Coca-Cola European Partners and Citi analysts agree there is upside potential with Amatil's performance likely to surprise on the upside in H2.
The analysts believe a recovery in overall volumes should allow the company to beat current market expectations for FY21.
The release of FY20 financials in mid-February will be key for overall shareholder sentiment, point out the analysts. Citi also believes a positive dividend surprise could be on the cards.
Neutral. Target $12.50.
Target price is $12.50 Current Price is $12.90 Difference: minus $0.4 (current price is over target).
If CCL meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $12.41, suggesting downside of -4.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 25.00 cents and EPS of 46.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of -15.3%. Current consensus DPS estimate is 28.4, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.6. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 44.00 cents and EPS of 53.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.4, implying annual growth of 19.6%. Current consensus DPS estimate is 43.2, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 24.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CCP CREDIT CORP GROUP LIMITED
Business & Consumer Credit
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Overnight Price: $30.80
Morgans rates CCP as Downgrade to Hold from Add (3) -
The broker believes Credit Corp’s recent PDL acquisition (from Collection House) materially adds to the company’s domestic purchasing pipeline at a time when sector volumes are significantly down.
While remaining positive on the company’s long-term outlook, including the opportunity to grow in the USA, Morgans has downgraded to Hold from Add on valuation.
The price target has increased to $31.10 from $21.20.
Target price is $31.10 Current Price is $29.94 Difference: $1.16
If CCP meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $23.20, suggesting downside of -22.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 61.00 cents and EPS of 122.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.7, implying annual growth of 306.7%. Current consensus DPS estimate is 52.0, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.8. |
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 69.00 cents and EPS of 136.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 122.3, implying annual growth of 17.9%. Current consensus DPS estimate is 61.3, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 24.4. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Today's Price Target Changes
| Company | Last Price | Broker | New Target | Prev Target | Change | |
| CCP | Credit Corp | $29.84 | Morgans | 31.10 | 21.20 | 46.70% |
Summaries
| CCL | Coca-Cola Amatil | Neutral - Citi | Overnight Price $12.94 |
| CCP | Credit Corp | Downgrade to Hold from Add - Morgans | Overnight Price $30.80 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 3. Hold | 2 |
Thursday 07 January 2021
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