Icarus Signal New Entries For Today

This story features CHARTER HALL RETAIL REIT, and other companies. For more info SHARE ANALYSIS: CQR

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Monadelphous ((MND)) is back. Having been firmly rejected above target in April, the shares have since spent most of their time yo-yo-ing around price levels at or near consensus price target below $19. Consensus target and share price have now moved in opposite directions, leading to Monadelphous shares again trading above target. This is rather familiar ground for the shares.

Stockbroker RBS, for one, believes Monadelphous deserves to trade where it is today. The stockbroker has come to the conclusion that Monadelphous will be among the companies that will surprise to the upside in August. This will force analysts to raise their forecasts and one would assume this will have a commensurate impact on price targets too. To add conviction to their call, RBS this morning opened a short term "Trading Buy" on the shares. Icarus will be watching further developments closely.

Another stock that seems to be making a come-back is Cochlear ((COH)). The shares peaked at $84 earlier in the year, and Icarus was there to warn investors. The sell-down since has been both relentless and savagely. The shares appear to have bottomed below $70 recently. On Friday Cochlear shares made their re-entrance as a newcomer among stocks that are closing in on their price target. Note that analysts at Deutsche Bank recently upgraded to Hold on exactly that same expectation; shares have bottomed.

Stocks that joined Cochlear after Friday's price action are MacMahon ((MAH)), Whitehaven Coal ((WHC)), Beach Petroleum ((BPT)), Austbrokers ((AUB)), DWS Advanced Business Solutions ((DWS)), Seven Group ((SVW)), Ramsay Healthcare ((RHC)), Wotif.com ((WTF)) and Eastern Star Gas ((ESG)).

Monadelphous' re-entry into the table of stocks trading above target is accompanied by Atlas Iron ((AGO)), Tabcorp ((TAH)), Charter Hall Retail REIT ((CQR)) and ConnecEast ((CEU)). Investors should note Eastern Star Gas and ConnectEast are trading on corporate take-over appeal, which could also apply to Tabcorp.

There are now 21 stocks closing in on and trading in the vicinity of consensus targets. There are now 30 stocks trading above target.

Mastermyne Group ((MYE)), Industrea ((IDL)) and OceanaGold ((OGC)) make their presence known in the Bottom 50. Oceana will report half-yearly financial numbers on Thursday.

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 MAH $ 0.59 $ 0.59 0.00% 2 WTF $ 4.87 $ 5.00 2.73% 3 SVW $ 9.68 $ 9.93 2.54% 4 WHC $ 6.61 $ 6.68 1.10% 5 BPT $ 1.07 $ 1.09 1.50% 6 RHC $ 18.31 $ 18.81 2.70% 7 DWS $ 1.43 $ 1.46 2.46% 8 AUB $ 6.49 $ 6.64 2.28% 9 COH $ 74.17 $ 75.96 2.41% 10 ESG $ 0.90 $ 0.92 2.79%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 CQR $ 3.36 $ 3.29 – 2.08% 2 CEU $ 0.55 $ 0.48 – 11.93% 3 MND $ 19.17 $ 18.81 – 1.88% 4 TAH $ 3.28 $ 3.25 – 0.91% 5 AGO $ 4.22 $ 4.19 – 0.64%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 idl $ 1.31 $ 1.92 46.79% 2 MYE $ 1.42 $ 2.12 49.30% 3 OGC $ 2.83 $ 4.13 46.04%

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