Cochlear is now under Algo Engine buy conditions and has been added to our ASX 100 model portfolio.
We expect 10% EPS growth over the next 12 months. Although, the stock remains expensive at 40x earnings and trading on a 1.8% yield.
Since writing the above post in Dec last year, COH has rallied from $175 to a high of $257. The subsequent pullback has seen buying interest rebuild at the higher low of $210.
This is the second cluster of Algo Engine buy signals and we’ve taken the opportunity to add to our original allocation.
Woolworths Group announced a disappointing trading update which revealed COVID had weighed heavily on earnings during the first half. The retailer anticipates $215mil in COVID-related expenses and before tax profit to fall from $1.3bn to $1.2bn.
We see value in the stock within the highlighted price range.
is under Algo Engine buy conditions and we see buying interest building above the $4.20 support level.
1Q22 Update and Reconfirming Guidance:
FY22 estimated FFO per security forecast in the range of 34.6 to 35.6 cents. Distribution per security is forecast to be within our target payout ratio of 75% to 85% of FFO.
Current market conditions remain uncertain and challenging with ongoing lockdowns and community transmission of COVID-19. All forward looking statements including FY22 earnings guidance are provided on the basis that the vaccination roll out continues and COVID-19 restrictions ease towards the end of CY21 and are underpinned by the following business assumptions: • Residential settlement around 6,400 lots • Residential operating profit margin ~18% • Land Lease communities delivering ~300 sites in FY22 • Retail rent collection returning to levels experienced prior to recent lockdowns towards the end of CY21
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