Revised guidance at Virtus

Virtus has revised down its FY15 guidance following market share losses in NSW (which surprised us) and a slower start-up in Singapore. Consensus downgrades of 10% are likely. The market has marked the share price down sharply on the news. Longer term, the industry fundamentals remain intact and we maintain our Add rating although have cut our price target by 11.6%. (VRT, Add, Price Target A$7.74) Report attached


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Scott Power
Senior Analyst
Morgans

Senior Analyst at Morgans covering healthcare, life science, telecommunications, technology and media. I've spent the last twenty years investing in and researching emerging companies and have developed a wide network of contacts across these...

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