FYI | Oct 11 2011
Daily update on share prices and consensus price targets.
By Rudi Filapek-Vandyck
Last time we saw Caltex ((CTX)) shares trading above consensus target it was April, when investor sentiment and share market indices peaked for the year. This time around Caltex shares have staged a come-back on a weaker Aussie dollar and an apparent rebound in global investor sentiment. The question then remains, of course, how long before we will see the pull back?
We note the most bullish stockbroker in the FNArena universe has a price target of $14 which is still some 5% above today's share price, but all others are now at or below today's price. Icarus is sounding the alarm bells. Investors better take note.
Another stock that is making a come-back on Icarus' radar is accountancy software developer Reckon ((RKN)). Reckon has tried a few times to surge above target, of which the last attempt was in August, believe it or not. Reckon is one of a few stand-outs in the local market, offering solid looking double digit earnings growth on the back of cloud computing and cutting out the middle man in its sales network, but everyting has a price and Icarus would argue the shares looked a better buy near $2.30 than they are near $2.60, and they will be in the future as well.
The number of stocks trading below but close to consensus target stands at 10, but many of those names have the "corporate acquisition target" label attached. The same applies to the list of stocks trading above target which currently contains 17 names. No doubt, if this week's rally proves to have legs, both lists will welcome many more new names in the sessions ahead.
Investors should consider the information and data are provided for research purposes only.
Stocks <3% Below Consensus
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Stocks Above Consensus
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Top 50 Stocks Furthest from Consensus
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To see the full Icarus Signal, please go to this link
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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