Patent business IPH reports its Full Year (FY) numbers next Thursday and after trading sideways for basically 3-years we will be looking for any catalyst from its earnings that may take the shares higher into 2023. The stock is not overly cheap trading on 21.2x Est 2022 earnings but a sustainable 4.15% yield makes patience easier – a candidate for our Active Income Portfolio. This is already a reasonably popular / if not largely followed stock with 1 hold, 2 buys and 2 strong buys which is not a surprise with its solid and stable earnings profile although we need to see more to buy IPH into a potentially post inflation peak environment.
- We believe IPH is a quality operator and could gain a place in our Income Portfolio but if we are around peak inflation it’s likely to lag the market without fresh earnings triggers.
MM likes IPH as a steady market performer with a reasonable yield
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