balnave rates mtu buy with $2.70 target

Hi,

Attached link to broker report Balnave securities (an interesting read):

Recommendation: BUY? price target $2.70.
We rate MTU an attractive investment proposition trading on strong fundamentals that include a FY11 PER of 9.2x, normalised EPS growth of 29.5% and a dividend yield of 6.5%, fully franked. Our target price of $2.70 per share represents 35% upside to the current price.

http://m2.com.au/__data/assets/pdf_file/0019/6157/10-MTU-FY10-_MTU-website_.pdf