Microequities
Initiation Research - October 2007 "CPT offers an attractive
organic growth scenario for at least the medium-term driven by a
combination of robust demand and consolidating client-base and
accelerated growth abroad. CPT is currently trading on our
EV/08EBITDA multiple of 7.1x. This compares to a peer group average
of 10.4x in FY08. We believe that the relative valuation gap is not
justified, particularly in the context of CPT’s track record of
profitability and earnings growth as compared to the background rate
of the sector."
Austock Initiation Research – August 2007 In
August 2007 Austock Research Report stated a Buy rating on CPT
Global, "In our view CGO is an undervalued small cap. leveraged to
the financial services & telco sectors (+75% of business). Our
price target of $1.60/share is 9.5x FY'08F EBIT, a 20% discount to
peers."
For further information about this report contact Austock,
contact details are included in the report.
Clear Focus Research In May 2003 a report
from Clear Focus Research found: “CPT’s share price is low on a
fundamental assessment, based on projected 2003 PER of 6.7x . . . .
CPT is well placed to deliver, due to the strength and substance of
its business”.
For further information contact Clear Focus Research, contact
details are included in the report
CIBC World Markets Australia Equity
Research In March 2001 a CIBC World Markets Australia
Equity Research Report stated: “CIBC is initiating coverage of CPT
Global with a buy recommendation and a 12 month price target of
$1.30. An EBITDA of 8.0x has been applied, being roughly in line
with other comparable Australian IT consulting companies”.
For further information about this report contact CIBC, contact
details are included in the report.
Johnson Taylor
Potter (Stockbrokers and Wealth Managers) In January
2001 Johnson Taylor Potter (Stockbrokers and Wealth
Managers) reported: “We believe that CPT will be recognised as a
company with attributes to succeed and earn investor support . . . .
CPT is building a strong and sustainable business, which we believe,
will deliver on the growth promise”