Icarus Signal New Entries For Today

This story features ROCKETBOOTS LIMITED. For more info SHARE ANALYSIS: ROC

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Spare 5 minutes to what has happened to global consultant Coffey International ((COF)) this week as its share price is now within striking distance of the consensus price target (2 brokers). One month ago the gap between share price and target was more than 30%. This week Coffey issued a profit warning and one of the stockbrokers, Credit Suisse, was forced to scale back a target that was ostensibly too high. The result: Coffey shares have now entered the list of stocks trading close to target, but a quick look at the price chart shows the shares have in essence gone nowhere but down over the year past.

Rightfully so if we take guidance from this week's profit warning. Note that stockbrokers don't necessarily believe that all the bad news is now out at Coffey, plus there remain risks the company might be forced to dilute shareholders by raising additional capital. The Coffey example can serve as a warning about what is hanging in front of some companies this month and next, investors better take note.

The irony is, Coffey shares tried to surge above consensus target in December last year, they have been in relentless decline ever since. Icarus does its work, for those who pay attention.

Coffey joined the group of stocks trading below, but close to target after yesterday's session. Others to join were Tabcorp ((TAH)) and Nomad Building Solutions ((NOD)); both no strangers to this daily Icarus update. There are now 14 stocks in this group. Four disappeared after yesterday's session, of which two because of strength and two due to weakness.

Beach Petroleum ((BPT)) and Austbrokers ((AUB)) disappeared because of share price weakness.

Metcash ((MTS)) and Acrux ((ACR)) have moved up to the stocks trading above target, joining 23 others. In the Bottom 50, we see ROC Oil ((ROC)), Astro Japan Property ((AJA)) and Horizon Oil ((HRZ)) popping up.

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 NOD $ 0.10 $ 0.10 0.00% 2 TAH $ 3.24 $ 3.25 0.31% 3 COF $ 0.72 $ 0.72 0.70%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 MTS $ 4.21 $ 4.19 – 0.48% 2 ACR $ 4.14 $ 4.06 – 1.93%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ROC $ 0.31 $ 0.48 53.23% 2 HZN $ 0.33 $ 0.49 49.23% 3 AJA $ 2.77 $ 4.12 48.56%

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