Icarus Signal New Entries For Today

This story features FLEETWOOD LIMITED, and other companies. For more info SHARE ANALYSIS: FWD

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Service providers to mining and energy companies have received a few positive yawns in the week past as stockbroking analysts have been paying a few visits here and there, and the overall feedback from management teams, be it about work under way, be it about work that should still come their way, has been very favourable. Within this context we couldn't help but noticing that shares in Fleetwood Corp ((FWD)) have started rising and they have shown no signal as yet that they will stop rising today.

Amongst the brokers who have been informing their clientele about ongoing positive prospects at Fleetwood are Pert based DJ Carmichael and Sydney based Bell Potter.

The problem that has arisen is that shares in Fleetwood are now above consensus price target, and rising. Icarus can see the logic of the share price anticipating higher earnings forecasts and thus higher price targets, but seriously how much higher would they go when we still haven't see the interim results for FY12 as yet? Icarus suspects Mr Market is reliving the first quarter of this year's calendar when Fleetwood shares rose above $14, only to come back down as a stone. Clearly, $14 is too much and a price below $10 is way too cheap. But $13?

Icarus thinks it's time for another warning.

Investors should also note that shares in Nufarm ((NUF)) are again on the move. Macquarie has been talking "refinancing" and how this would positively impact on the share price. Obviously, investors have taken the message on board. Won't be long, or so it appears, before Nufarm shares are trading above target too. And something seems to be "happening" in the share price for the fallen angel of all internet promises, Photon Group ((PGA)). The shares are above target (one broker only) as I write today's update.

There are now 23 stocks trading below but close to consensus target, while 28 stocks are trading above target. The latter group includes Bendigo and Adelaide Bank ((BEN)), Caltex ((CTX)) and Platinum Asset Management ((PTM)). Caltex is being supported by speculation that an exit from refineries might catapult the share price into the stratosphere.

Altona Mining ((AOH)) saw one stockbroker initiating coverage and the stock immediately entered the Bottom 50. Such is life for a small mining stock with risk appetite under a big cloud that emanates from Europe.

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 NUF $ 4.79 $ 4.84 1.11% 2 MCR $ 0.83 $ 0.84 1.45% 3 TTS $ 2.32 $ 2.36 1.85% 4 RXM $ 1.57 $ 1.60 1.91% 5 CAH $ 1.71 $ 1.75 2.34% 6 MYR $ 2.45 $ 2.51 2.41% 7 WES $ 32.05 $ 32.94 2.78% 8 CQR $ 3.23 $ 3.32 2.82% 9 fxl $ 2.31 $ 2.35 1.73% 10 PGA $ 0.06 $ 0.06 1.69% 11 OMH $ 0.58 $ 0.58 0.00%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 BEN $ 9.23 $ 9.23 – 0.02% 2 SBM $ 2.31 $ 2.31 – 0.22% 3 CTX $ 13.32 $ 13.26 – 0.43% 4 PTM $ 3.83 $ 3.81 – 0.52% 5 DMP $ 7.20 $ 7.12 – 1.14% 6 LWB $ 3.60 $ 3.50 – 2.78% 7 FWD $ 12.92 $ 12.60 – 2.48% 8 SPN $ 0.97 $ 0.96 – 0.93% 9 BPT $ 1.20 $ 1.19 – 0.50%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 OTH $ 0.38 $ 1.50 300.00% 2 ACL $ 0.28 $ 1.06 285.45% 3 SLX $ 2.05 $ 7.54 267.56% 4 CVN $ 0.14 $ 0.50 257.14% 5 PPX $ 0.09 $ 0.30 250.59% 6 RES $ 0.48 $ 1.45 205.26% 7 WEC $ 1.51 $ 4.30 184.77% 8 BND $ 0.70 $ 1.80 158.99% 9 BTA $ 0.77 $ 1.98 157.14% 10 SMR $ 0.80 $ 2.03 153.75% 11 TSM $ 0.42 $ 1.02 144.58% 12 IFN $ 0.26 $ 0.60 136.86% 13 AOH $ 0.28 $ 0.65 132.14% 14 RFX $ 0.88 $ 2.04 131.82% 15 GNM $ 0.22 $ 0.50 128.64% 16 AVG $ 0.27 $ 0.58 118.87% 17 HST $ 0.10 $ 0.22 117.17% 18 RQL $ 0.40 $ 0.86 113.75% 19 DTE $ 0.57 $ 1.20 110.53% 20 PEM $ 0.43 $ 0.87 102.33% 21 VMS $ 0.35 $ 0.70 100.00% 22 HZN $ 0.23 $ 0.44 94.67% 23 TXN $ 0.67 $ 1.28 92.48% 24 LNC $ 1.98 $ 3.75 89.87% 25 LYC $ 1.17 $ 2.22 89.74% 26 BSL $ 0.75 $ 1.36 81.73% 27 WTP $ 1.10 $ 1.96 79.00% 28 FND $ 0.38 $ 0.67 78.67% 29 GRR $ 0.45 $ 0.79 78.20% 30 PXS $ 1.32 $ 2.31 75.89% 31 HGO $ 0.24 $ 0.42 75.00% 32 COK $ 0.38 $ 0.65 73.33% 33 FKP $ 0.50 $ 0.85 70.91% 34 BOL $ 0.29 $ 0.49 68.97% 35 MAQ $ 8.00 $ 13.51 68.88% 36 PDN $ 1.39 $ 2.33 68.45% 37 ALK $ 1.14 $ 1.92 68.42% 38 OST $ 0.97 $ 1.62 67.77% 39 TIS $ 0.57 $ 0.95 66.67% 40 IVA $ 1.00 $ 1.85 85.00% 41 KAR $ 4.52 $ 8.90 96.90% 42 GBG $ 0.55 $ 1.11 104.04% 43 NCR $ 0.35 $ 0.78 122.86% 44 GEM $ 0.50 $ 0.84 67.00% 45 KSC $ 1.22 $ 2.06 69.55% 46 AQP $ 2.56 $ 4.42 72.46% 47 KGD $ 1.41 $ 2.55 80.85% 48 AJA $ 2.13 $ 3.93 84.51% 49 ROC $ 0.29 $ 0.49 70.18% 50 IPD $ 0.57 $ 1.14 100.00%

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