We have an interesting list of likes this week. Topping it of is Raymond Chan of Morgans, who is tipping an oil ETF (OOO) on the back of the OPEC meeting this week.
Michael Heffernan likes carsales.com.au and believes it will get a boost from the Budget’s small business initiatives.
“A sound business with attractive dividends,” he says.
“The Budget’s small business incentives should boost vehicle sales with carsales.com a first internet click.”
Michael McCarthy likes pharma company Novogen, and Elio D-Amato has nominated OzForex Group after it announced good results last week.
“This result was in line with our expectations, but appeared to disappoint the market and was heavily sold down,” D’Amato says.
“Our view is that OFX is well placed to create strong operating leverage in the future, and that the company operates in a niche where its technology focus will see it continue to grow above the industry trend. This price dip represents a potential opportunity.”
Paul Rickard likes AGL for value after the company unveiled a brave new strategy last week (read all about that here [1]).
Peter likes Macquarie Group.
“It benefits from a falling dollar and its new model works. It would be great buy with any market dive,” he says.
Dislikes this week include Medibank, Crown Resorts and Qantas. Fortescue Metals should come as no surprise.
“Whilst the FMG operations still hold a lot of potential, the company also still holds a large amount of risk. It’s our belief that these risks continue to outweigh the potential gains, in a very volatile commodity price environment,” D’Amato says.
[2]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.