CIMIC – approaching the buy zone

CIMIC is growing earnings at 12 – 14% p/a and continues to win new large scale infrastructure projects, helping to support the work in hand pipeline.

The stock has recently retraced from $51 back to $46, although we’re mindful of the price gap in the chart down to $43.50, we see value beginning to emerge.

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Our accumulation range is $43 – $46.

Keep Downer EDI on your watch list. $7.00 looks like a low risk entry level.

 

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