Toronto listed DyeThe bid for Link
Then on 16 June 16 the deal hit its biggest hurdle after the Australian Consumer and Competition Commission said it had “significant preliminary competition concerns” about the transaction. On Tuesday Morgan Stanley analysts upgraded its share price target from $4.40 to $4.90. That increased price target, it said was mainly driven by an increase in the market value of PEXA, which has had a strong run recently in addition to a valuation uplift as a result of the stronger than initially forecast operating earnings.
The forecast earnings growth of about 10 per cent “suggests a stronger recovery than we or consensus had previously expected,” the broker said.
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