Totalbeginner13 Dec 2010 18:06
6 Months to a year.
Re rating due in Jan and here is what they said at last results. Note the 13p target:
Interim results from online banking software firm Parseq are of limited usefulness in making an investment decision, as the group has been transformed since the period end by the reverse takeover by content management and payments processing specialist Documetric, and its acquisition of certain of the assets and trade of Avance Group.
The integration of Avance, a business process outsourcing and technology specialist is progressing well, however, and house broker Canaccord notes “the company remains positive about the outlook for the full year.”
Canaccord is leaving its full year forecasts unchanged after the interim figures, which it said were in line with expectations.
“The shares are trading at a 2011E P/E [price/earnings ratio] of only 5.8 times, indicating market uncertainty around full year expectations. We believe meeting full year expectations may be a catalyst for the shares. We reiterate our BUY rating and multiples-derived target price of 13p,” the broker said.
Today seemed a good taster of things to come potentially. Shares mag tip helped too. If I can get some below 6.5 I will. Even consider 7. Let it settle first.