UBS: MRE on AMP - Results Announcement

Submitted by Share Trading on 19 February, 2006 - 22:09

A strong result delivered on the 16th February 2006 picking up market share everywhere including New Zealand. AMP is capturing 18% market share of the ever increasing superannuation pool. MRE (Macquarie Research Equities) has upgraded their earnings forecasts for the company by 7% in 06, 4% in 07, and 2% in 08. MRE have also upgraded their 12 month price target to $9.06. MRE believe the stock represents good value at these levels with an attractive yield. A 40cps capital return was announced and another flagged for FY07. Meanwhile UBS has a neutral 2 reconmmendation on AMP with a target of$8.15.