No change to target price or basic fundamental assumptions, but share price weakness has materially improved the risk-reward tradeoff in the shares.

Given the combination of recent share price weakness, especially in relative context, and slightly increased revenue assumptions, we see improvement in the risk-reward equation for LCC.

We still expect a much improved result for 2006. We don't find anything in the release itself that should change people's views about 2006 prospects.

It is possible that pharmaceutical group stock momentum could carry (Lilly) higher, but we believe the risk/reward warrants a neutral rating.

It's too much risk for too little reward.

There's a risk of weakness in the Australian dollar in the next couple of days. Any decline in commodity prices is bearish for the Australian dollar.