Analyst Research Report Snapshot

Title:

MILLENNIUM & COPTHORNE HOTELS - SPOTTY

Price:

$10.00

Provider:

Edison Investment Research

Date:

24 Feb 2010

Pages:

2

Type:

AcrobatPDF

Companies referenced:

MLC.L

Available for Immediate Download
Summary:

The market’s response was surprisingly enthusiastic, given M&C’s continued lack of earnings visibility. Maybe it was more relief that 2009 results were better than expected (albeit only slightly and against a fragile consensus) and confirmed strong finances. The CEO was hired to fire-fight in unprecedented conditions, and that he has done well. The market may now want more but must be patient as there is no quick trading fix and asset prices are unattractive for M&C, both as buyer and seller.

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