Originally Posted by
Vitamin
I see another Broker's report is very bullish on AIR, with a 12 month price target of $1.50 per share and a DCF valuation of $1.83 per share:
"Our target price of NZ$1.50 (1x P/B) is unchanged, although forecast revisions boost our DCF valuation to NZ$1.83 (previously NZ$1.43). We think AIR remains in a strong position with minimal near-term capex requirements, net cash and moderate gearing of around 50% (operating leases at 7x). We view AIR as a trading stock for less cautious investors, given the super-cyclical nature of the sector. On our estimates, AIR is trading around 0.73x P/B relative to QAN on around 1x P/B."
Certainly looks cheap compared to its competitors. Let's hope the rally continues :)