TFC - TFS CORPORATION LIMITED UBS rates TFC as Buy (1) - The...

TFC - TFS CORPORATION LIMITED
UBS rates TFC as Buy (1) - The company has raised $60.45m in equity at $1.55 a share. The proceeds will be used to buy grower plantations, ensuring the company has more control over its Indian sandalwood supply.
UBS views the next potential positive catalysts as the forecast 10-fold uplift in production in coming months and the refinance of the US$200m in notes later this year.
UBS retains a Buy rating. Target is $3.25.
Target price is $3.25 Current Price is $1.64 Difference: $1.615 If TFC meets the UBS target it will return approximately 99% (excluding dividends, fees and charges). The company's fiscal year ends in June.
Market Sentiment: 1.0 All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources