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

No surprise, after a session that saw the Australian share market jump more than 100 points (circa 2.5%) the main lists derived from Icarus' radar saw plenty of newcomers. The main question remains, however, how many of those are to remain bid in the sessions ahead?

The list of stocks trading close but still below consensus price target saw no less than 13 newcomers at yesterday's close of trading. There are only 19 stocks in total on this list. Stocks of interest include WorleyParsons ((WOR)) which has staged a continuous come-back this month, Beach Petroleum ((BPT)) and Monadelphous ((MND)). The latter is a regular in these daily updates.

The list of stocks trading above target now counts 27 stocks, of which yesterday's price action provided 7 newcomers. Amongst the stand-out names is regional lender Bendigo and Adelaide Bank ((BEN)). Ever since quant analysts at Citi pointed into its direction (see story in Treasure Chest)  the shares have surged and surged but now the question must be asked: when is enough enough? Icarus thinks we've already moved past that point.

The list which contains a majority of names that is either directly or indirectly linked to take-over action, now includes names such as OM Holdings ((OMH)), Murchison Metals ((MMX)) and the rejuvenated Pharmaxis ((PXS)).

In contrast to Pharmaxis, QRxPharma ((QRX)) has re-joined the Bottom 50.

Investors should consider the information and data are provided for research purposes only.

Stocks <3% Below Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 APA $ 4.31 $ 4.43 2.78% 2 BPT $ 1.17 $ 1.18 1.03% 3 CCL $ 12.18 $ 12.46 2.29% 4 CUS $ 1.09 $ 1.11 1.65% 5 EQT $ 13.00 $ 13.17 1.31% 6 ESG $ 0.86 $ 0.88 2.67% 7 fxl $ 2.29 $ 2.35 2.62% 8 LWB $ 3.50 $ 3.50 0.00% 9 MND $ 19.54 $ 19.55 0.06% 10 MYR $ 2.45 $ 2.51 2.41% 11 NHC $ 6.02 $ 6.16 2.28% 12 RXM $ 1.57 $ 1.60 1.91% 13 WOR $ 28.51 $ 28.86 1.23%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 BEN $ 9.43 $ 9.23 – 2.14% 2 BKW $ 11.20 $ 11.11 – 0.85% 3 CQR $ 3.34 $ 3.32 – 0.69% 4 MMX $ 0.27 $ 0.22 – 18.52% 5 OMH $ 0.67 $ 0.59 – 11.94% 6 PXS $ 1.43 $ 1.09 – 23.99% 7 WEB $ 2.38 $ 2.35 – 1.26%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 ELD $ 0.27 $ 0.44 64.91% 2 MAQ $ 8.20 $ 13.51 64.76% 3 PGA $ 0.04 $ 0.06 66.67% 4 QRX $ 1.45 $ 2.38 64.50%

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.

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.

Click to view our Glossary of Financial Terms