0921 [Dow Jones] STOCK CALL: Transfield (TSE.AU) upgraded to Buy from Hold by ABN AMRO, arguing stock is oversold after 45% price fall following mid-May EPS downgrade and looks cheap on historical and peer basis. However, downgrades EPS by 9% in FY09 and 10% in FY10 after raising A$ forecasts, lowering U.S. facilities management business sales growth and margin assumptions, and cutting New Zealand business margin outlook due to input cost pressures. Target price lowered 10% to A$9.45 vs latest A$7.30. (WEL)
TSE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
