Icarus Signal New Entries For Today

This story features DEXUS, and other companies. For more info SHARE ANALYSIS: DXS

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Here's a story I have been waiting for quite some time. Listed property trusts have been underperforming since the GFC, but they have been outperforming in Australia since the beginning of 2011. When will the first one appear on Icarus' radar?

The answer is: today. Dexus Property ((DXS)) has been climbing steadily these past weeks. Today the REIT has joined the group of stocks trading near but still below consensus price target. Last time this happened was in February. What followed next was a sharp decline as global risk appetite returned with a vengeance. Are we about to witness a repeating exercise? The answer lies in the question: what about risk appetite?

Even if Dexus securities are not immediately ripe for a retreat, the message put forward by the Icarus Signal is that other trusts probably represent better value from here onwards. Unless, of course, the market is onto something that has yet to become public knowledge?

Other movements post another down day for the market yesterday proved pretty boring. Monadelphous ((MND)) is back in the same group as Dexus, but because the share price weakened (again) and sector minnow Walter Diversified ((WDS)) followed in its footsteps, for exactly the same reason.

The number of stocks trading above target has now shrunk to 24. Given continued weakness in the share market, one would have to assume this group will only shrink further.

Note: Wotif.com is pretty much displaying a text book response after hitting consensus price target. The shares have been in steady decline since (seem to stabilise today).

Adamus Resources ((ADU)) and K&S Corp ((KSC)) have now joined the Bottom 50.

Investors should consider the information and data are provided for research purposes only.

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 DXS $ 0.92 $ 0.93 1.64% 2 MND $ 18.88 $ 19.23 1.84% 3 WDS $ 0.73 $ 0.74 1.38%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 NOD $ 0.11 $ 0.10 – 9.09%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ADU $ 0.58 $ 0.90 55.17% 2 KSC $ 1.48 $ 2.28 54.05%

To see the full Icarus Signal, please go to this link

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