FYI | Aug 19 2011
Daily update on share prices and consensus price targets.
By Rudi Filapek-Vandyck
It goes without saying, current market volatility is not really supportive for a signal such as Icarus, which, let's face it, concentrates on OVERVALUED stocks.
Regardless, life sciences company Pharmaxis ((PXS)) stands out after yesterday's price action, in my view. As clearly shown on the price chart below, market expectations were significantly re-based in May, and so did the share price. Since then Pharmaxis shares have been hovering close or above price target. This is probably more a sign of remaining interest being limited to short term traders and otherwise enthuiasts who might retain hopes for a positive break-out to the upside, but who certainly do not pay any attention to stockbroker targets.
On the basis of these targets, the outlook for Pharmaxis shares is one that contains limited upside potential. Unless things change dramatically, of course. But there are no signs that are suggesting anything like it in the short term.
Meanwhile the number of stocks trading close but still below target has once again been decimated to six (6) only. Both Pharmaxis and Tishman Speyer Office ((TSO)) left the group trading above target, to join those close to target, otherwise the list would have shrunk even more. Cochlear is still above target (how long?). There are still 20 stocks trading above target.
The Bottom 50 welcomes APN News & Media ((APN)), Seven West Media ((SVW)) and Resource Equipment ((RQL)) as newcomers.
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
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.
