Cochlear recently completed an $850mn equity raise via an institutional placement at $140 per share. The capital raise now removes any balance sheet concerns.
Following the placement, we estimate COH will have total liquidity of
$1.0bn+ with little in the way of debt maturities until 2022.
The pathway back to elective surgery appears to be improving and we, therefore, see the current price range as an opportunity to accumulate COH shares.
Macquarie Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
MQG reported a 24% fall in second-half net profit compared to the same period a year ago, to $1.27bn. Second-half impairment charges doubled to $900m.
Macquarie’s full year net income was down 8% to $2.7bn. We remain cautious on the deteriorating earnings and doubtful debt charges across the industry over the next six months.
Sonic Healthcare is now trading below $26.00 and we suggest investors begin accumulating the stock within the $25 – $26 price range.
Cleanaway Waste Management is under Algo Engine buy conditions.
We recommend investors look to accumulate CWY $1.70 – $1.80 range.
Did you miss Monday night’s webinar? Catch up by watching it here.
TPG Telecom is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see price support near $7.00 and suggest watching the short-term momentum indicators for a turn higher.
Leon will once more host a live webinar, reviewing the opportunities in review.
To receive the live link, please register here.
The webinar will start at 7pm NSW time.
Chinese gaming and social media group Tencent Holdings has bought a 5per cent stake in Afterpay Ltd. The stake was built from the end of March through April, a filing to the Australian Securities Exchange showed.
Origin and Santos are worth considering with a stop loss below the recent low.
James Hardie Industries is under Algo Engine buy conditions.
The share price has formed a higher low formation and rallied from the $17.50 support level.
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