Bell Potter initiates a BUY, page-4

Really? Outside your price target?

Bell Potters target is $2.40.. And they have added it to their list of "top picks"

At 1.68 (price when research released) MNY was trading on 10x FY17 PE

10-11 x PE is hardly expensive. Especially for a stock that is growing EPS by 20% per year (Based on management guidance)

I've read Bell Potter's research report and it puts up a convincing argument.

They see plenty of scope for MNY to move into new markets, especially into the quality credit lending (cars).. Also synergies emerging from the combined systems and cheaper funding available via new banking facilities.