DXS is another holding in our Active Income Portfolio, people remain scared of property and other cyclical sectors however we think much of this pain is now priced in and we should be focussing our attention on identifying the opportunities that others will gravitate to over the year ahead. Many are clearly questioning whether or not the stock is cheap enough above $8 considering the uncertainties that lie ahead for the office market, while we believe the answer is yes (it’s trading nearly 40% below its net tangible assets) another leg lower cannot be ruled out with the RBA still hiking.
- We like DXS into weakness but we’re not seeing any hurry to chase for our Growth Portfolio at this stage.
MM likes DXS into dips under $8
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