Cleanaway – Buy

Posted on | by Leon Hinde

{ASX:CWY) is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.

Cleanaway has approached global giant Suez about potentially buying its Australian assets in a $2 billion-plus deal. If a transaction proceeds, the ACCC will conduct a public review to assess the impact on competition. 

We see price support above the $2.20 level.

Woolworths – Buy

Posted on | by Leon Hinde | Leave a Comment on Woolworths – Buy

WOW:ASX is under Algo Engine buy conditions and is a current holding in our ASX model portfolios. 

Woolworths’ Chief Executive, Brad Banducci said the retailer remained committed to the $10bn spin-off and possible demerger of its liquor and hotels business, Endeavour Group.

The higher low at $38.30 will likely result in increased buying support and the demerger will remain an attractive bonus for shareholders. 

Sonic Healthcare – Buy

Posted on | by Leon Hinde

SHL:ASX is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.

FY22 revenue is likely to be around $7.6bn on EBITDA of $1.7bn. EPS growth will moderate to 5 – 10%, which will continue to support a forward yield of 3.5%.

The short-term momentum indicators are now pointing higher, as buying increases above the $30 support level.