Icarus Signal New Entries For Today

This story features BENDIGO & ADELAIDE BANK LIMITED. For more info SHARE ANALYSIS: BEN

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Stockbrokers have been slow in responding to Metcash's ((MTS)) major ACCC coup this week, but the share market never waits. Metcash shares are in demand and they may well remain in demand a little longer as investors weigh up the short, medium and long term benefits from acquiring the remainder of Franklins in Australia. The two stockbrokers who did update this morning represent both extremes in views and thus no conclusions can be drawn. Not as yet, anyway. (We'll excuses their peers as yes, it is rather busy this time around in the Australian reporting season).

Note that Metcash shares have been a long favourite among investors looking for yield. On present consensus forecasts the shares should pay out 6.8% and 7.5% in the present fiscal year until April next year and the following one. Those numbers are 100% franked. Investors chasing the stock after this week's event will be hoping stockbrokers are ready to respond with target increases, because the distance between share price and consensus target is shrinking, and fast.

Metcash is now part of a select group of companies trading still below but in the vicinity of consensus target. The other newcomer on today's list is regional lender Bendigo and Adelaide Bank ((BEN)). There is one key difference in that stockbrokers have been lowering their targets for the latter, and that's why Bendigo is now part of the same list (investors should always pay attention to these details).

Earlier this week, I took the opportunity to highlight what has happened at former market darling Matrix Composites and Engineering ((MCE)) and whatdayaknow, some sources elsewhere who remained very positive on the stock have now remained positive in the hope of better times ahead. Yesterday, Matrix shares surged again to well above JP Morgan's price target for the stock. Matrix shares have now joined the likes of Foster's ((FGL)) and Port Bouvard ((PBD)) in trading above target.

There are now eight stocks in the vicinity of target and 19 stocks above target. The latter group includes some serial "above target" trading stocks such as Cochlear ((COH)), Monadelphous ((MND)) and Envestra ((ENV)).

Note that Walter Diversified ((WDS)) has now disappeared off these lists, but only because a jump in the target. The same applies to Minara ((MRE)).

The "new" context for WDS shares in particular looks interesting. The shares have been trying to stay above $0.85 earlier in the year, and that proved too far too early. Now that the target has moved to $0.85, will the next attempt stick?

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 MTS $ 4.11 $ 4.18 1.65% 2 BEN $ 9.00 $ 9.24 2.67%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 FGL $ 5.01 $ 5.00 – 0.28% 2 TWE $ 3.39 $ 3.38 – 0.41% 3 GOZ $ 1.92 $ 1.90 – 1.04% 4 MCE $ 4.47 $ 4.34 – 2.91% 5 PBD $ 0.05 $ 0.05 – 7.41%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 OTH $ 0.36 $ 1.63 352.78% 2 PPX $ 0.12 $ 0.44 264.17% 3 CVN $ 0.16 $ 0.50 222.58% 4 ACL $ 0.34 $ 1.06 211.76% 5 PLA $ 0.21 $ 0.62 202.44% 6 NCR $ 0.28 $ 0.78 178.57% 7 KAR $ 3.32 $ 9.18 176.39% 8 SLX $ 2.90 $ 8.01 176.21% 9 TXN $ 0.55 $ 1.46 165.45% 10 RES $ 0.57 $ 1.45 154.39% 11 IFN $ 0.27 $ 0.65 142.22% 12 RFX $ 0.97 $ 2.32 139.18% 13 GNS $ 0.21 $ 0.49 136.59% 14 GNM $ 0.25 $ 0.55 125.71% 15 SMR $ 0.90 $ 2.03 125.56% 16 KGL $ 0.10 $ 0.22 122.22% 17 NXS $ 0.24 $ 0.52 121.28% 18 BTA $ 0.90 $ 1.98 120.00% 19 WEC $ 1.96 $ 4.30 119.39% 20 IPD $ 0.53 $ 1.14 115.09% 21 TIS $ 0.45 $ 0.95 113.48% 22 GRR $ 0.43 $ 0.88 103.49% 23 HST $ 0.12 $ 0.23 100.00% 24 TSM $ 0.51 $ 1.02 99.02% 25 BND $ 0.95 $ 1.80 89.47% 26 HZN $ 0.25 $ 0.46 88.98% 27 MPO $ 0.61 $ 1.15 88.52% 28 PEM $ 0.59 $ 1.10 86.44% 29 IAU $ 1.46 $ 2.70 85.57% 30 FKP $ 0.50 $ 0.92 85.05% 31 BOL $ 0.27 $ 0.49 84.91% 32 DTE $ 0.66 $ 1.20 83.21% 33 ALK $ 1.67 $ 3.04 82.04% 34 AVG $ 0.32 $ 0.58 81.25% 35 QRX $ 1.35 $ 2.43 80.67% 36 LNC $ 2.08 $ 3.75 80.29% 37 TAP $ 0.71 $ 1.25 76.60% 38 PPC $ 1.20 $ 2.11 76.08% 39 HFA $ 0.90 $ 1.56 73.33% 40 IVA $ 1.80 $ 3.10 72.22% 41 HGO $ 0.25 $ 0.43 72.00% 42 AJA $ 2.41 $ 4.12 70.75% 43 ELD $ 0.30 $ 0.50 67.67% 44 AQP $ 3.76 $ 6.20 64.89% 45 TSE $ 2.30 $ 3.77 64.00% 46 HTA $ 0.06 $ 0.10 62.71% 47 GBG $ 0.70 $ 1.12 60.72% 48 CSV $ 0.86 $ 1.37 59.65% 49 CIF $ 0.93 $ 1.48 59.46% 50 ROC $ 0.30 $ 0.47 59.32%

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