Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hello MM Team, I am after your view for short-medium term for FMG. Also, is Challenger (CGF) on your radar with interest rates rising, I remember you were saying they would benefit a few months ago. Thanks Tim
Hi Tim,
Fortescue Metals Group (FMG) around $21.30 is neutral to bullish, sorry we are usually more committed on this great trading stock but today it’s probably best left alone in our opinion – with the view of buying a deeper a pullback if it eventuates.
Challenger (CGF) is close to making fresh highs above its post COVID high at $7.38, on balance we are bullish looking for a test of $8 but its not a compelling buy from a risk / reward perspective in our opinion. Higher interest are indeed a positive for CGF over time, however volatility in bond in equity markets can be a hindrance in the shorter term.
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