Supermarket goliath WOW requires no introduction and while its been underperforming Coles Group (COL) in recent months we feel value is returning back around the $35 area however yesterdays muted reaction to a decent 1st half report, with NPAT coming in 6% better than expected at $795m, suggests another test under $35 is at least a 50-50 possibility, even though we believe upgrades will eventually follow.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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MM likes WOW around $35
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