commsec has value at $3.63 down 22 cents!

Sees the partial loss of Chorus as in line, trams loss a bit of a surprise...

Commsec Quote:

We saw the Chorus & Yarra Trams contract renewals as important place markers.The retention of Chorus is reasonable relative to expectations however the loss of Trams contract was a suprise: that siad the 9% fall following the announcement appears an over reaction. Commsec's valuation is $3.63 (Down 22 cents)and our recommendation remains ACCUMULATE/MARKET OUTPERFORM


The shares are trading in the low $2.20's. This announcement was dated 2nd of July.