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CPU - Computershare News Story

A$17.9 1.0  5.7%

Last Trade - 24/09/21

Large Cap
Market Cap £5.75bn
Enterprise Value £6.52bn
Revenue £1.66bn
Position in Universe 56th / 1955

BUZZ-Australia's Computershare: Citi cuts FY22 results outlook, lifts PT

Fri 16th July, 2021 12:27am
** Citi Research lifts price target on Australian investing
services provider Computershare Ltd  CPU.AX  to A$15 from
A$13.90 and maintains "sell" rating 
    ** Citi cuts FY22 sales forecast by 2.2% to $2.63 bln and
core net profit by 6% to $323.4 mln from previous forecast,
pointing to likely headwinds in CPU's mortgage servicing growth
    ** Brokerage lowers FY22E EPS by 6%, says CPU's near-term
outlook is likely to be reasonably tough
    ** Citi expects CPU's margin income to fall in FY22
    ** "There should be some recovery in U.S. mortgage
servicing, but we expect this to be only modest," says broker
    ** Seven out of 11 analysts who cover the stock rate it
"buy" or higher, three "hold" and one "strong sell"
    ** CPU up 13.1% this year, as of last close

 (Reporting by Aditya Munjuluru in Bengaluru)
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