OTCPK:TOUBF - Post by User
Post by
neruditeon Dec 22, 2009 1:02pm
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Post# 16611057
TD target upped on Dec 18
TD target upped on Dec 18A few days ago TD upped it's target from $25 to $29:
Excerpt:
Sino-Forest has taken aggressive action to grow its timber base andaffirm its position as a leading commercial plantation operator in China. We
expect these initiatives will be 9% dilutive to our 2010 EPS forecast (higher
share count and increased interest expense), but we forecast mid- and longterm
EPS and free CFPS accretion as initial timber rotations are harvested and
replanted rotation economics are captured by the company. We are raisingour DCF-derived target price to C$29.00 from C$25.00 (to account for
the Guizhou and Mandra agreements) and reiterate our Action List BUY
recommendation.