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Thought on IPG and TLX

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    Thought on IPG and TLX

    Keen for your thoughts on IPG and COH. a) IPG - SXE has run incredibly hard and IPG to a lesser extent of late. It seems IPG could also be a beneficiary providing many products that SXE may require to deliver their services. IPG also leverage to the electrification of everything. Recently entered sub $4.20 for a medium term hold. b) Keen for your recent thoughts on TLX? Currently hold RMD and CSL and looking for another healthcare stock. TLX seems to be better placed compared to RHC and SHL which continue to experience ongoing cost issues. TLX also appears to have more catalysts in the short term that RHC and SHL

    Answer

    Hi Scott,

    We agree that SXE has run hard and a pullback towards $1.50 would not surprise, i.e. over 10%. However it did upgrade profit guidance in mid-May and we would be buyers of dips as opposed to sellers of strength. We had SXE in this week presenting on their strategy. As for IPG its earnings guidance in late May was more of a ho-hum event, hence we prefer SXE into dips.

    On Thursday we discussed our current penchant for healthcare stocks and we also put our $$ where our mouth is by increasing our CSL holding. In terms of Telix Pharma (TLX) both the stock and company look great although chasing it above $18 is hard to digest, the stock looks on course to trade well above $20 in the coming months with plenty of potential catalysts to drive further gains including:

    • Possible EU approval of Illuccix, mid year.
    • FDA acceptance of filing for Zircaix (kidney cancer imaging) by ~August.
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    IPD Group (IPG) v Southern Cross Electrical (SXE)
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