ASX – Buy “High Conviction”.

ASX is under Algo Engine buy conditions.

Higher levels of equities and futures trading, along with growing demand for its data services, have lifted ASX Limited’s earnings and revenue over the half year. Net profit 2H19 to December was up 1.8% to $250mn on revenue of $454mn, which was up 7%, EBIT rose 6% to $315.

We expect growth to remain in the 1  – 4% range and we see the stock as a “high conviction” buy on the dip during the current market sell-off.