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Icarus Signal New Entries For Today

FYI | Jul 08 2011

This story features GR ENGINEERING SERVICES LIMITED, and other companies. For more info SHARE ANALYSIS: GNG

Daily update on share prices and consensus price targets.

By Rudi Filapek-Vandyck

Monadelphous ((MND)) is back! A strong performance in yesterday's session has pushed shares in one of the market's most favourite exposures to the upcoming capex tsunami back within 1% of consensus target. If history is any guidance it won't be long before Icarus welcomes Monadelphous among the stocks trading above target. Clearly the return of risk appetite is pushing the capex leverage firmly back on investors' radar with smaller peers such as Nomad Building Solutions ((NOD)) and MacMahon Holdings ((MAH)) also joining the list of stocks within reach of consensus target.

Note that several of similar companies are already trading above target: GR Engineering Services ((GNG)), Walter Diversified Services ((WDS)), Lycopodium ((LYL)), Crane Group ((CRG)) and Matrix Composites & Engineering ((MCE)).

One other stocks that joined the group trading close to target is Treasury Wine Estates ((TWE)) which has become a perpetual yoyo carried by continuous take-over speculation amidst ongoing doom and gloom for the international wine sector in general. TWE and the three mentioned earlier are joined by dividend play ING Office Fund ((IOF)).

Regis Resources ((RRL)) received a downgrade in recommendation from Deutsche Bank but that didn't stop the shares from surging above target. Regis was joined by Wotif.com ((WTF)), a regular in Icarus updates, and by Murchison Metals ((MMX)). The latter is now trading above target because stockbrokers have been cutting and slicing. Note there is no broker left that rates the stock as a Buy.

There are 25 stocks trading above target, while the group listing stocks below but close to target has shrunk to 11. Amongst the latter are 4 dividend plays. Four other dividend plays are in the group above target.

Now that Monadelphous is back on Icarus radar, the obvious question to ask is where is Iress ((IRE))?

For those new to the daily Icarus updates: it wasn't that long ago that both Monadelphous and Iress were trading above target for quite some time, prior to both starting to yoyo in between below and above target, after which both received a firm rejection, falling to lower share prices.

Answer: Iress shares are progressing higher as well, but they are still more than 4% below consensus target. How long before they will catch up with Monadelphous?

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 IOF $ 0.65 $ 0.67 2.92%
2 MAH $ 0.58 $ 0.59 2.61%
3 MND $ 18.89 $ 19.07 0.96%
4 NOD $ 0.10 $ 0.10 0.00%
5 TWE $ 3.46 $ 3.47 0.20%

Stocks Above Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%)
1 MMX $ 0.71 $ 0.56 – 21.13%
2 RRL $ 2.59 $ 2.56 – 1.16%
3 WTF $ 5.03 $ 5.02 – 0.12%

Top 50 Stocks Furthest from Consensus

Order Symbol Current Price($) Consensus Price($) Difference(%)
1 NXS $ 0.30 $ 0.47 56.67%
2 REX $ 0.83 $ 1.25 50.60%
3 SAR $ 0.60 $ 0.90 51.26%

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

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CHARTS

GNG IRE LYL MCE WDS

For more info SHARE ANALYSIS: GNG - GR ENGINEERING SERVICES LIMITED

For more info SHARE ANALYSIS: IRE - IRESS LIMITED

For more info SHARE ANALYSIS: LYL - LYCOPODIUM LIMITED

For more info SHARE ANALYSIS: MCE - MATRIX COMPOSITES & ENGINEERING LIMITED

For more info SHARE ANALYSIS: WDS - WOODSIDE ENERGY GROUP LIMITED