Westfield and AGL: In the buy zone?

What are your thoughts on AGL – Is it a buy at this point? Also, what are your thoughts on Westfield and is it a buy ? Thank you.

 

A: I struggled to understand why AGL got much over $20, and the sell off to the low $17s was overdone and got caught up in the momentum play out of defensive stocks.

With Westfield, it has been effected by currency concerns, particularly the weakness of the pound sterling. The brokers are neutral on the stock, although they have a consensus target price of $10.78. I think it is a long term buy.


Read Answer