Icarus Signal New Entries For Today

This story features SPLITIT PAYMENTS LIMITED, and other companies. For more info SHARE ANALYSIS: SPT

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Amazing how much difference a few days of recovering share prices can make. Note: recommendation upgrades are no longer outnumbering downgrades. As far as the Icarus Signal goes, plenty of movements to pay attention to.

Internet services provider Melbourne IT ((MLB)) is the obvious choice to highlight with the share price weakening in recent days. Management has flagged a weak performance for H1 FY11 and the market has been quickly losing its appetite. Also, the shares were blissfully holding up while securities analysts had started to cut forecasts and targets, and this has now been corrected. It's not your every day typical Icarus Signal, but the end result is still the same.

Melbourne IT shares are the only newcomer in the list of stocks trading close, but below, consensus price target due to persistent weakness. All other newcomers today do so on the basis of strength. These include Spotless ((SPT)) -in play-, Lynas ((LYC)), Challenger Diversified ((CDI)), Qube Logistics ((QUB)), Aquila Resources ((AQA)), Brambles ((BXB)) and Primary Health Care ((PRY)). I'd say the emergence of Qube is further proof investors continue looking for best ways to play the upcoming capex tsunami from next year onwards.

Australian Pharmaceutical Industries ((API)) has disappeared from this group following another big sell-off yesterday. EDT Retail Trust ((EDT)), Equinox ((EQN)) -in play- and Medusa Mining ((MML)) all moved above target. They join Linc ((LNC)) among the stocks trading above target. Linc shares put in a huge performance yesterday.

Again, a special mentioning goes out regarding OZ Minerals ((OZL)). The shares are trading in between a 1-for-10 consolidation and while FNArena has adjusted forecasts and targets, the transition on the share market is causing havoc with our signals and rankings. This will normalise shortly as OZ Minerals shares will start trading on post-consolidation basis.

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 AQA $ 8.87 $ 9.09 2.51% 2 BXB $ 7.36 $ 7.57 2.83% 3 CDI $ 0.55 $ 0.56 2.36% 4 LYC $ 2.34 $ 2.38 1.84% 5 MLB $ 1.77 $ 1.78 0.28% 6 PRY $ 3.51 $ 3.61 2.96% 7 QUB $ 1.66 $ 1.70 2.41% 8 SPT $ 2.40 $ 2.42 0.83%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 EDT $ 0.09 $ 0.09 – 1.10% 2 EQN $ 7.68 $ 7.60 – 0.99% 3 LNC $ 3.28 $ 3.25 – 0.91% 4 MML $ 8.51 $ 8.40 – 1.29%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%) 1 ACL $ 0.69 $ 1.30 89.78% 2 CSV $ 0.90 $ 1.33 47.56% 3 ozl $ 1.35 $ 3.43 155.32% 4 TPI $ 0.93 $ 1.40 51.35%

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