Canaccord research update with increased price target of $0.49...

Canaccord research update with increased price target of $0.49 on the back of this acquisition. Market seems to like it..

"AMA has announced the acquisition of Queensland based Custom Alloy, which is an established manufacturer of aluminium bull bars and accessories. The acquisition is highly complementary with AMA’s existing ECB bull bar operations and located within 15 minutes of ECB’s current location. On the back of the acquisition we have increase our FY14 and FY15 EPS forecasts to 2.4c (?5%) and 2.8c (?14%) and increased out price target and DCF valuation to $0.49."