IPL – Valuation review

Incitec Pivot operates in explosive/mining services and fertilizers. The stock remains under Algo Engine sell conditions, but we continue to watch the buying momentum and the upcoming earnings result for signs of strength.

We are encouraged by the recent capital raising which has helped to strengthen the balance sheet and should help navigate any short-term COVID-19 volatility.

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IPL trades on a forward yield of 2.2%.

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