Stock Name: Goodpack
Company Name: GOODPACK LIMITED
OCBC Investment Research in a Sept 12 research report says: "Goodpack currently has 63,998,910 warrants with a strike price of 68 cents outstanding. Since its financial year-end in Jun 2011, 268,000 warrants have been exercised.
"The warrant exercise did not impact our revenue growth forecasts for the company, which remains at 8% to reflect management's intention to boost its top line by increasing rates on renewed contracts by a total of 10-15% over the life of the contract (typically three years). We also continue to like Goodpack for its strong fundamentals and promising growth potential.
"Assuming full conversion of the warrants by year-end FY2012, our previous fair value estimate of $2.15 is now reduced to $1.90 in anticipation of the 13% increase in shares outstanding. MAINTAIN BUY."
Company Name: GOODPACK LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 1.90 |
OCBC Investment Research in a Sept 12 research report says: "Goodpack currently has 63,998,910 warrants with a strike price of 68 cents outstanding. Since its financial year-end in Jun 2011, 268,000 warrants have been exercised.
"The warrant exercise did not impact our revenue growth forecasts for the company, which remains at 8% to reflect management's intention to boost its top line by increasing rates on renewed contracts by a total of 10-15% over the life of the contract (typically three years). We also continue to like Goodpack for its strong fundamentals and promising growth potential.
"Assuming full conversion of the warrants by year-end FY2012, our previous fair value estimate of $2.15 is now reduced to $1.90 in anticipation of the 13% increase in shares outstanding. MAINTAIN BUY."
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