Huge Broker Upgrades- Will Fly!, page-40

Been out of ALL for a bit, but looking at getting back in on this pull back. 200 dma is sitting at 27.25, will see if that holds. Bit of an update from MAQ from last yesterday..

Macquarie rates ALL as Outperform (1) -
Macquarie observes the business has underperformed the ASX100 by -9% since the end of July despite no changes to the growth opportunities and addressable markets. Hence, the broker suggests the PE de-rating provides an entry point to the stock. A review of the outlook suggests a 24% three-year compound growth rate in earnings.

The company is also a beneficiary of US tax reform and more than 70% of earnings are generated in this region. Outperform rating and $34 target maintained.

Target price is $34.00 Current Price is $28.37 Difference: $5.63
If ALL meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $34.65, suggesting upside of 22.1% (ex-dividends)
The company's fiscal year ends in September.