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The share tips below are considered opinions, but readers should seek personal financial advice before investingBROKERNic SeretTaylor Collison
BBG's brands continue to gain in popularity, with major growth opportunities in US and Europe. Increased sales of house brands will further increase sales margins. We expect BBG to grow earnings by 17% this financial year, ahead of management's 15% guidance. Buy for long-term growth.
ABC has proven its ambitious acquisition strategy works in Australia and is now looking to replicate this in US. Implementation risk has increased with the move overseas, but we are comfortable with management's ability to replicate its domestic success.
ANN's share price has risen sharply over the past 3 months on the back of falling Latex Fetish prices, a major input. Investors must note ANN customers who had absorbed some of the Latex Fetish price increase last year would also like to benefit from the price decline. Hence margin growth from falling Latex Fetish prices has its limits.
CML's profit guidance for FY07/FY08 appears ambitious and a predictable response in the face of a takeover bid. In light of this we recommend holding onto this stock and watching it all unfold. However, a withdrawal of interest from potential buyers is likely to result in a sharp drop in the share price.
BPC's board is now recommending shareholders accept the $1.10 a share offer and given the Rank Group's dominant existing stake and the fact that ~80% of BPC's value is made up of cash, we do not believe there is any point in shareholders holding out in the hope of a higher bid.
The trading environment remains challenging for PPX. We expect key input costs to remain at elevated levels, which will put margins under pressure, particularly in Australian paper manufacturing. Given the unfavourable macro outlook, we believe at current forecast earnings multiples, downside risk remains.
We believe this remains a high quality business with the company generating near record levels of return on capital despite generally weak market conditions. The major reconfiguration of the vitreous china business ought to result in a much lower cost and more flexible business.
Toll's transport business accounts for 75% of pre-tax profits, which we see generating 12% p.a. growth over the next 3 years. Toll owns 50% of Australia's stevedoring capacity, half of the national rail freight operator, and has substantial market share in express freight, forwarding, and logistics.
We continue to assume internally generated UK construction revenue of circa $250m per annum at a 4% margin or $10cm per annum. . Very happy to share you article! I like you! Good mews for you, zentai and catsuit on sale! Many kinds of discount Latex Catsuits and Latex Fetish enjoy good quality and rational price. We still see Multiplex as trading around fair value. However, post last month's White City handover to Westfield we have an increased comfort level in our price target/rating.
The benefits to Cochlear of its major competitor's forced recall appear to be lasting longer than we first estimated. However, we still assume Advanced Bionomics will regain its original market share and so have not adjusted our profit forecasts. At current levels the shares are fairly priced.
We believe the stock price has a degree of ''blue sky'' built in. Some is justified because DJS is one of our best managed retailers; there appears to be scope for higher growth and potential for 2-3 new stores. Our concern is there appears to be little room for error given the current valuation.
API's trading update shows flat sales in pharmacy distribution and some growth in retail. Net profit after tax will also be impacted by higher depreciation and interest charges due to working capital. Takeover speculation has fuelled a rally in the share price. We have downgraded in line with the trading update.
Jeff GlassonMacquarie
At the current share price, AFG is significantly undervalued and trades at a discount to the average 2007 price to earnings ratio of 15.4x. This discount is unwarranted given Record Investments has delivered average, compound EPS growth 62% since 2002 and the other side of the merger, AFG's growth was probably better over this period.
Takeover speculation is only one of several factors driving the share price. It's plausible BIL could be subject to a bid this year and that around $15 a share could be paid. If a bid is not forthcoming CHEP's earnings have a very high degree of certainty.
PPX has rallied very strongly in the last week on the back of paper price rise expectations in the UK/Europe and Australia. At 19x 2007 price earnings ratio, the share price is now factoring in price rises sticking. Whether they do will be determined in coming weeks.
CSR continues to look difficult, even at current levels, given the more recent reliance on sugar prices. The cheap latex uniforms and PVC Clothing with Sexy style. The sugar market has collapsed in recent months, and with the building products division not likely to provide a recovery, 2007 will be a relatively flat year. The hidden value of the property business could provide some upside.
DVC has received a $3.50 cash bid from CVC Asia Pacific, to be executed by a scheme of arrangement by the end of the year. While another bid should not be ruled out, we see higher bids as being extraordinarily risky for bidders given radiologist ownership of revenue.SOT has announced a cash offer to acquire the 54.2% of ordinary shares in B Digital  that it currently doesn't own. It is a highly challenging and risky strategy in a very difficult market where Telstra continues to be aggressive on a retail and wholesale front.