IAG has tumbled almost 20% from its late January high as it turned from hero to villain in the blink of an eye. We haven’t changed our view of IAG since it reported earnings in February, but the difference is that the stock is coming down towards our “Buy Zone.” With interest rates set to ease again in 2025, IAG’s fully franked yield of ~4.2% is becoming increasingly attractive as the stock retreats.
- We like IAG in its current weakness, but the risk/reward still isn’t attractive until it moves back toward $7.
MM likes IAG in the $7-7.25 region
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