Chief market strategist at CMC Markets, Michael McCarthy likes ANZ this week.
Source: ASX
“[The] recent share price action has me thinking ANZ is about to burst through the ceiling at $29.20,” he says.
“In my view, it sold off on sentiment, rather than fact, and a solid dividend yield and a share price target above $32 has investment appeal.”
But he doesn’t like Computershare (CPU) and says a long expansion, through acquisition, has increased the risks in this stock and it is priced for perfection.
“Unfortunately, this company has missed 5 of the last 8 annual profit estimates. Holders may want to take advantage of all-time highs,” he says.
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