IAG rallied in the slipstream of SUN yesterday closing up +4.6% on the day, making it the ASX200’s 2nd best performing stock. Both the stock and sector look good to MM and if we were to see a “pop” by CBA towards $110 tomorrow following their result active players could consider switching part of their banking position into IAG in anticipation of some performance catch up – a forecasted ~5% yield is definitely attractive in today’s environment.
MM is bullish IAG initially targeting a break of $6
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NB We already hold IAG in our Income Portfolio.
