Healthier PMP looks ahead to rationalisation
Trevor Hoey
A much improved result by the long underperforming PMP has prompted Bell Potter to increase the company’s 12-month price target from 60¢ to 68¢ – representing a premium of about 50 per cent to its recent trading range.
While reported net profit of $800,000 isn’t substantial in itself, given that it is a significant turnaround from the previous corresponding period when the company recorded a loss of $24.3 million, it was well received.
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