Computershare Ltd

CPU: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$73.40	Pjwlf	Yrfvjsw

Computershare Fair Value Estimate Cut to AUD 17 on Lower Rates but Remains Undervalued

Mar 11, 2020

We have cut out fair value estimate for Computershare by 12% to AUD 17.00 per share following management’s earnings guidance downgrade and reductions in our earnings forecasts. However, at the current market price of AUD 11.75 we continue to believe the shares are undervalued. The current share price implies a fiscal 2021 price/earnings ratio of 13, versus 19 at our fair value.

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