Naap schreef op 18 februari 2016 17:46:
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KBC denkt daar anders over. KBC over BAM:
We foresee further re-rating potential for the shares when the market begins to recognize and value BAM’s strong cash flows with potential for a significant excess cash position by FY17E, according to our estimates.
We would not rule out EPS upside to € 0.62 to 0.84, based on a 3-4% EBT margin, lifting the fair value potential to € 7-8 per share. We currently have a BUY recommendation with € 6.0 price target.