Earnings slightly missed expectations in 2019. Morgan Stanley observes the accounts continue to be clouded by changes to the standards.

The company has decided to slow down the rolling out of of the more capital intensive elements of its improvement program.

Equal-weight rating. Target is $13. In-Line industry view.

Sector: Consumer Services.

Target price is $13.00.Current Price is $14.48. Difference: ($1.48) - (brackets indicate current price is over target). If IVC meets the Morgan Stanley target it will return approximately -11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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