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

It was three weeks ago that Icarus started issuing warning signals about shares in Fleetwood Corp ((FWD)). Though it didn't turn out an immediate point of reversal, the chart below is pretty much self-explanatory. For everything there's a price and this also includes a well-oiled machine such as Fleetwood. The shares have started to join in the newfound market optimism again, after losing $1.50 in share price.

The Fleetwood experience could prove a blue print for others such as Campbell Brothers ((CPB)) and Monadelphous ((MND)). Both companies continue to win new contracts and whenever they update the market on financials there's always another positive surprise, but with share prices hovering around consensus targets, what real upside is left for the short to medium term?

It is a question that will increasingly being asked by investors as the likes of QR National ((QRN)), Platinum Asset Management ((PTM)) and Little World Beverages ((LWB)) have once again landed on Icarus' radar. Note asset managers such as Platinum are heavily leveraged towards improving equity markets, just like miners are triple leveraged to an acceleration in global growth. James Hardie ((JHX)) has now appeared on Icarus' radar too and that would require sustained improvement in the US housing market. There's a lot of built-in leverage at James Hardie too.

There are now 22 stocks trading close but still below consensus target and these include Cochlear ((COH)), Reckon ((RKN)), Ansell ((ANN)) and all of the above mentioned names, except Fleetwood. There are 21 stocks trading above target, including AJ Lucas ((AJL)), Domino's Pizza ((DMP)), Webjet ((WEB)) and more than a handful of corporate targets.

David Jones ((DJS)) remains one of the most shorted stocks in the share market and the share price did correct substantially earlier this month, but it appears it cannot genuinely let go of that price target.

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 PSH $ 0.13 $ 0.13 0.00% 2 QRN $ 3.40 $ 3.42 0.56% 3 JHX $ 6.60 $ 6.71 1.61% 4 MND $ 19.69 $ 20.10 2.10% 5 NHC $ 5.95 $ 6.11 2.64% 6 PTM $ 3.71 $ 3.81 2.70% 7 LWB $ 3.40 $ 3.50 2.94% 8 CUS $ 1.11 $ 1.14 2.99%

Stocks Above Consensus

Order Symbol Current Price ($) Consensus Target($) Difference(%) 1 DJS $ 2.77 $ 2.75 – 0.90%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Target($) Difference(%) 1 SYM $ 0.25 $ 0.53 112.00% 2 QRX $ 1.35 $ 2.38 76.07%

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

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