What are MM’s current thoughts on CPU?
Hi Team, Does MM have any interest in Computershare ? The chart appears to be in a strong up trend. Cheers Craig
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Answer
Hi Craig,
MM has no interest in Computershare, technically the stock feels stretched and while they have benefited from higher interest rates if rates have peaked probably so too has CPU. Around half of Computershare’s revenue and earnings are based in the US and with the current macro picture we believe this is likely to be impacted by a weaker USD which we foresee.
On Friday with the ASX200 up around 200 points CPU was down -2.7%, not the time time to be buying in our opinion.
