Seven Group Holdings Ltd (ASX: SVW) has smashed through a Macquarie Wealth Management target price forecast set last February by 80% – with the analyst proposing a FY18 price target of $9.46 for a share that opened on February 2 down 0.5% at $17.08.
Seven Group Holdings has a portfolio of media, property and other investments across its operations in Australia and China and is chaired by renowned business mogul Kerry Stokes, who controls about three-quarters of Seven Group via ACE Group Entities which holds 73.05% of shares.
The February 2017 Macquarie Wealth Management report suggested neutral for shareholders with an outlook dependent on dividend yield and share buyback outcomes.
And while Seven Group hit an intra-day low of $4.03 on February 10 2016 the stock has now climbed to more than four times that price in two years.
Seven Group hands down its interim report on February 20 and the results will certainly be interesting reading for shareholders.
