Icarus Signal New Entries For Today

This story features PHARMAXIS LIMITED, and other companies. For more info SHARE ANALYSIS: PXS

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Solid dividend paying securities have outperformed the broader share market in the June quarter, but many of such stocks have faced tougher times since last week as overall risk appetite improved favouring higher risk cyclicals instead. For the Icarus Signal this has meant lots and lots of changes. To put it in stockbroker lingo: overall volatility has picked up, a lot.

The list of stocks trading near consensus target lost no less than nine members on Friday, of which only two moved on to the join the group trading above target. Both of these two, Pharmaxis ((PXS)) and Charter Hall Office Reit ((CQO)), have been very volatile in recent sessions. They are being joined by Melbourne IT ((MLB)) for whom the label "volatile" has become a severe understatement.

Invocare ((IVC)) seems to have suffered from a sell the fact wave of selling on Friday, pushing the shares well below target despite the ACCC finally granting its approval for the Bledisloe acquisition. Stockbroker Moelis stated on the day: all the good news seems to be priced in already. Most traders most have thought the same given the firm sell-off that ensued on Friday.

In Icarus Signal terms, Invocare shares were approaching consensus price target. Though the shares weren't exactly there as yet, the fall since Friday might well serve as yet another warning that "timing" if not "valuation:" does count.

There are now ten stocks trading in the vicinity of target and 20 stocks above target.

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 LYL $ 5.98 $ 5.98 0.00% 2 TAH $ 3.22 $ 3.28 1.71% 3 WDS $ 0.73 $ 0.74 0.68%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 CQO $ 3.42 $ 3.40 – 0.70% 2 MLB $ 1.80 $ 1.78 – 1.39% 3 PXS $ 0.94 $ 0.86 – 8.19%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%)

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