Buy IPL – Support at $3.40

We suggest accumulating IPL  shares at current levels following the recent Algo Engine buy signal at $3.30.

The stock is a current holding within the ASX 50 model portfolio.

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This week IPL announced the mitigation to a recent a contract loss, through a new contract with Fortescue.

IPL stated that the FMG contract would mitigate ~50% of the financial impact associated with previously announced contract losses in Western Australia.

We forecast FY19 EPS growth of 10%, placing the stock on a forward yield of 4.3%.


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