RBC Target - new comments this afternoonRBC have issued their comments post Brexit - in the shortest terms, they calculate a pretty minor drop in the 2016 and 2017 Adjusted EPS
2016 - drops $10 million or 16 cents a share diluted
2017 - drops $20 million or about 30 cents a share.
they have a very detailed matrix on FX impact and do a great analysis but the main fact for the limited hit is the natural hedging and the large mix of non-GBP derived income etc
they do however drop their multiple for the stock to 8 times from 9 times the multiple drop is just a reflection of the increased risk overall given brexit
so the target price drops to $US40 - a 50% ROI from here which is pretty compelling
hope this helps those who want independant comments about the Brexit hit