Chorus (CNU) and IVE Group (IGL) – revisiting past calls
Stock
Chorus (CNU) $3.73 as at 23/05/2018 IVE Group (IVE) $2.20 as at 23/05/2018Event
We wrote about Chorus (CNU) and IVE Group (IGL) back in early April (report available here). Chorus is an NZ based Telco that was spun out of New Zealand Telecom in 2011 – its dual listed on the ASX and in New Zealand with a combined capitalisation of ~$3bn (ASX listed cap of $1.6bn). We described IGL as an old school printing business utilizing new technologies to dominate the market + it’s clearly cheap.
Market Matters Take/Outlook
Chorus – In April the stock was $3.82, while today it’s trading at $3.73. We had originally targeted $3.40 as a buy – this remains on our radar and we may ‘pay up’ in time.
Chorus (CNU) Chart
IVE Group – In April the stock was $2.18 in April while today it’s trading at $2.20. we had originally targeted a buy below $2.04 – this remains on our radar and we may ‘pay up’ in time
IVE Group (IGL) Chart
