Morning Report Monday 23 June 2014
Domestic Telco stocks have rallied well: is time to take profits?
The six Telco stocks that I look at have all had significant advances over the last four years, but to me the cracks are starting to appear in places where most investors are not looking. I remain clearly bullish on two stocks at today’s prices, positive on two stocks at lower prices, neutral on one stock and interestingly bearish on the stock most owned by Australian retail investors. Today’s Financial Review discusses M2 Group’s (MTU) interest in the Lumo Group, a likely $300m deal. The rapid growth in the sector due to accusation is clearly maturing fast and it’s time to watch very carefully how the individual companies perform strategically.
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