Icarus Signal New Entries For Today

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Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Has Discovery Metals ((DML)) now been rejected?

The question remains unanswered but we observe it was at present share price levels the share price started to weaken in February this year only to return this week. Now the strong run upwards seems to have at least come to a pause. Note that stockbroker Deutsche Bank turned more positive this week, lifting its price target (though still below the present share price) on the back of a more positive view on copper prices.

One stock that seems to have been firmly rejected at consensus target is dataroom provider NextDC ((NXT)). Alas, because of technical problems this morning, I cannot include a price chart for NXT, but it certainly appears like the share price has been firmly rejected at the target, the share price lost more than 3% yesterday.

Other stocks that fell out of the group of stocks trading close to target after yesterday's price action are Beach Petroleum ((BPT)), Ansell ((ANN)), Charter Hall Office REIT ((CQO)) and Ramsay Healthcare ((RHC)). In their place came 9 newcomers: Nomad Building Solutions ((NOD)), Melbourne IT ((MLB)), Foster's ((FGL)), ConnectEast ((CEU)), Coffey International ((COF)), Kingsgate Consolidated ((KCN)), Commonwealth Office Property Fund ((CPA)), Reckon ((RKN)) and Macmahon Holdings ((MAH)). Six of these newcomers have fallen out of the group trading above target.

There are now 18 stocks trading close to consensus target. Note the above mentioned NextDC is only covered by one broker in the FNArena universe.

No newcomers were registered among the stocks trading above target, where many found themselves in losing territory yesterday. As six stocks disappeared, this group now counts 24 members, of which many trade on take-over appeal.

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 MLB $ 1.77 $ 1.78 0.28% 3 FGL $ 4.99 $ 5.02 0.54% 4 CEU $ 0.54 $ 0.54 0.56% 5 COF $ 0.72 $ 0.72 0.70% 6 KCN $ 9.17 $ 9.26 0.98% 7 CPA $ 0.95 $ 0.96 1.47% 8 RKN $ 2.56 $ 2.61 1.88% 9 MAH $ 0.60 $ 0.61 2.02%

Stocks Above Consensus

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

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 DCG $ 2.28 $ 3.53 54.82% 2 OGC $ 2.68 $ 4.13 54.22% 3 COK $ 0.44 $ 0.66 51.72% 4 AQP $ 4.21 $ 6.33 50.43%

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Technical limitations

If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.

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