Icarus Signal New Entries For Today
Daily update on share prices and consensus price targets.
By Rudi Filapek-Vandyck
Looked at from one perspective, the chart below shows that even when it comes to defensive yield plays in the Australian share market, timing counts. Consider, for example, that investors looking to buy some exposure to Commonwealth Property Office Fund ((CPA)) have had the option of buying some around today's share price level around $0.96 (multiple occasions) or wait for better entry points which have been available as low as $0.84.
Looked at from another perspective, it should be clear that parts of market participants (those who are not solely sitting on the sidelines) is looking for yield support and the continuous return of CPA on Icarus' radar is evidence of this. Consider, for example, that Envestra ((ENV)) is also trading close to consensus target, as is Metcash ((MTS)), while Tishman Speyer Office Fund ((TSO)) - closely related to CPA in that both manage offices - has now surged above target.
Yet, it also has to be pointed out the number of pure yield plays in both tables is remarkably lower than earlier this year, which may have to do with parts of market participants positioning for the inevitable rally, as well as for a (inevitable?) rate cut by the RBA.
Stocks on Icarus' radar continue to be dominated by gold exposure/leverage and mining services. There are now 16 stocks trading close to but still below consensus target, including the above mentioned Commonwealth Property Office Fund. There are also 16 stocks trading above target including Tishman Speyer Office Fund.
The fact that Macquarie Telecom ((MQG)) has re-joined the Bottom 50 can probably serve as an indication the market still doesn't like small telecom companies, despite all the positive analyses that are being published right, left and centre.
Investors should consider the information and data are provided for research purposes only.
Stocks <3%>
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Stocks Above Consensus
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Top 50 Stocks Furthest from Consensus
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To see the full Icarus Signal, please go to this link
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