Smart Group (SIQ) was upgraded by Ords this morning with a BUY and $7.70 target price. We own the car leasing and salary packaging business SIQ in the Income Portfolio and it’s starting to grind higher after a fairly lacklustre period. We had Matt Williams in the office from Airlie last year who highlighted this as one of his good value picks. It hasn’t done a lot but is now on the move. SIQ is relatively cheap (15x forward) and is tipped to yield 4.5% fully franked this year. I’ve actually bought it for my 94-year-old Grandma, rightly or wrongly.
MM is bullish SIQ
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- Healius Raised to Buy at UBS; PT A$4.40
- Worley Cut to Neutral at UBS; PT A$10.80
- Worley Cut to Neutral at Credit Suisse; PT A$9.20
- oOh!media Rated New Hold at Jefferies; PT A$1.70
- Worley Raised to Buy at Morningstar
- Worley Raised to Neutral at JPMorgan; PT A$10.60
- OZ Minerals Raised to Neutral at Goldman; PT A$17.90
- Galaxy Resources Cut to Sell at Bell Potter; PT A$2.15
- GWA Group Cut to Neutral at Goldman; PT A$3.05
