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Citi has upgraded IOOF (IFL) to Buy from Neutral - mark-to-market revisions have seen FY13 trimmed by 1%, pulling the price target a little lower to $8.95 (current price $7.97). However, with shares still trading under $8.00, there is plenty of upside to the stock. If IFL meets the Citi target it will return approximately 12%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.03 with dividend yield of 5.21%.


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