Queensland based SUN has forecast its maximum retained cost from the floods will be about $75mn but although the stock delivered a solid result last month sentiment is clearly against the sector due to the combination of a nervous stock market, bond yields upside momentum waning on economic concerns around Ukraine and now the floods. The stocks strong yield and recent 24% pullback leaves us neutral to slightly bullish SUN.
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MM is neutral to positive SUN around $10
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Weekly Video Update: James & Harry cover portfolio performance for July, and Income stocks to buy here & now.
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