Hot stocks – BHP, waste management and financial services

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Among this week’s likes and dislikes are financial services, a waste management company and BHP.

Michael McCarthy of CMC markets’ likes BHP this week. “In my view, the upswing in copper and coal is not yet reflected in BHP’s share price, and any upswing through $28 could spark technical buying,” he says.

BHP Billiton (BHP)

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Source: ASX

He’s not in favour of waste management company Cleanaway (CWY). “The business is in good order and the pipeline strong, but in my opinion, it has run too far ahead and is trading on a lofty multiple.”

“Any missteps here could have dramatic repercussions for the share price,” says McCarthy.

Cleanaway (CWY)

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Source: ASX

CIO at Prime Value Asset Management, ST Wong, says he likes engineering company Worley Parsons (WOR) this week.

“Worley was sold off last Friday due to a perceived soft outlook guidance at its AGM. Energy and resources activities should continue to trend positively,” he says.

Worley Parsons (WOR)

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Source: ASX

Wong says he doesn’t like financial services company IOOF (IFL), whose stock price was recently buoyed by its acquisition of ANZ’s wealth management business.

“A key issue IFL needs to address is the potential leakage and soft funds inflow of the acquire business,” says Wong.

IOOF (IFL)

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Source: ASX

 Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.

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