Broker snap: Computec prompts upgrades at Experian

16th May 2011 10:25

Credit Suisse revises up its forecasts at credit checking firm Experian ahead of the group's full-year result due on Wednesday to reflect the impact of the recent Computec acquisition and foreign exchange moves.The broker estimates revenues of $4,218m for the year ended 31 March, pre-tax profit of $959m and benchmark earnings per share (EPS) of 68.8 cents. 2012 and 2013 EPS estimates are raised by 4%, prompting a target price upgrade from 820p to 860p."While Experian's growth and cash generation is, in our view, attractive we think that this is reflected in the current price and still see greater value elsewhere in the sector," said Grobler.However, a 'neutral' stance is kept.---BC