1030 [Dow Jones] STOCK CALL: Transfield Services (TSE.AU) 12-month target price raised 42% by JPMorgan to A$3.67 from A$2.58 and 84% by RBS to A$4.23 from A$2.30 after stronger than expected FY results and encouraging outlook commentary. RBS lifts forecasts by 11% in FY10 and 5% in FY11, with "early signs that the sector may be on the cusp of a renewed upgrade cycle." JPM says recent rally in part due to recovering confidence in structure and management but says near-term outlook not without uncertainty, retaining Neutral rating, despite expecting Transfield to win work in LNG, renewable energy and Canadian oil sands. TSE latest flat at A$3.80. (WEL)
TSE Price at posting:
$3.66 Sentiment: Buy Disclosure: Held
