From the Ballieu Holst daily - ( Accessed at...

From the Ballieu Holst daily - ( Accessed at https://www.livewiremarkets.com/)

"IPH Limited (IPH) – Baillieu Holst Industrial Analyst Nick Caley has BUY rating and $7.05 price target. Investment view: BUY retained with DCF valuation of A$7.07 (prev. A$7.43) and price target of A$7.05 (prev. A$7.45) – lower valuation due to change on FX assumptions. Notwithstanding the looming escrow related share sell-down from November 19, 2016 we continue rate IPH as a BUY based upon: 1) full period inclusion of recent acquisitions in 2H16 and 1H17; 2) growing the Asian footprint through organic means, acquisitions, opening new offices in the region and leveraging recent domestic acquisition into Asia; 3) attaining efficiencies from recent acquisitions through combining back office services; 4) continuing to grow the data business Practice Insights; and 5) looking at opportunities in the patent renewals industry."

There is a consensus price target of $7.
I also note the shorting has been picking up the last few days (http://www.shortman.com.au/stock?q=iph) which would probably be the reason the share price has moved back to $5.

Management has projected a greater than 10% increase in EBITDA. There is strong growth in Asia. The sell-down seemed to go well. Lots to like but sentiment seems negative.