Icarus Signal New Entries For Today

This story features COCHLEAR LIMITED, and other companies. For more info SHARE ANALYSIS: COH

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Occasionally, we highlight some "classic" examples of Icarus Signals, and surely Wotif.com ((WTF)) cannot remain unmentioned within this context. The shares once again approached $6 in April, which put the shares on PE multiples comparable to those of Cochlear ((COH)) and clearly investors subsequently drew the conclusion this was a bit excessive. The shares have plunged back to near $4.80 this week. Given that all kinds of moving averages have been broken through the process, with the 200M/A also offering but futile support, it should not be excluded Wotif shares will remain in the punishment corner for longer.

The weakness in Wotif shares has been so severe lately, the stock has now disappeared from the group of stocks trading in the vicinity of consensus price target. Other stocks disappearing from that list due to weakness are ARB Corp ((ARP)) and SP Ausnet ((SPN)).

Meanwhile, after a day of strong recovering share prices in the market yesterday, Catalpa ((CAH)), Iress ((IRE)) and Australian Pipeline Trust ((APA)) have all re-entered the group of stocks trading above consensus price target. Note that Catalpa is currently in play.

The group of stocks trading near target (still under it) has now been joined by Warrnambool Cheese ((WCB)), Austar ((AUN)) -take-over from Foxtel-, Dulux ((DLX)), TABcorp ((TAH)), Campbell Bros ((CPB)) and Graincorp ((GNC)). Graincorp put in a strong rally yesterday on the back of a better than forecast financial performance in H1. Also joining this group are Walter Diversified ((WDS)) and Lycopodium ((LYL)), but both do this on the back of weakness, as opposed to strength for all others.

Watpac ((WTP)) is now amongst the Bottom 50 for the Icarus Signal. So is PanAust ((PNA)) but, as outlined yesterday, this has more to do with a consolidation for the shares than with strongly increased valuation. Investors should ignore PNA's presence in the table.

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

Stocks <3% Below Consensus

Stocks Above Consensus

Top 50 Stocks Furthest from Consensus

To see the full Icarus Signal, please go to this link

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