LIKE
“I like Rio Tinto (RIO),” Michael says. “The global miner’s share price is still below $100, despite iron ore prices above $90 per tonne.
“Copper markets are tightening and there’s a real possibility of a significant re-rating of Rio,” he adds.
Source: Google
DISLIKE
However Michael doesn’t like Caltex (CTX). “While applauding management’s action in spinning off its property assets, the conditional takeover bid that followed has pushed the share price circa 25% higher,” he says.
“Trading near the indicated offer price of $34.50 in my view means it’s all in the price, and am happy to jump to alleviate the risk the bid falls over,” he adds.
Source: Google
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