Buy – Downer EDI & CIMIC Group

The below post is from 14th December and a check of the latest charts will show the rally which is now occurring in both names.

Both Downer and CIMIC are current holdings in the ASX  100 model portfolio.

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The graphs below show the price action finding recent buying support.

We see a supportive backdrop with increased infrastructure spending, likely to underpin earnings growth in both businesses for the next 3 – 5 years.

NOTE: Today CIMIC Group has announced an on-market buy back of up to 10% of the shares on issue.

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