Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
JIN had a big fall today I note the down grade but the reaction seems to be more than that ? Is it a good time to buy this stock ? PMV has been rising over the last month makes me wonder is there some good news that has not come out yet ? AX1 had a take over in the pipe line and has bounced off the lows do you see the deal going ahead ? Thanks guys Glenn.
Hi Glenn,
Jumbo Interactive (JIN) – is trading down more than 15% on Thursday afternoon, its largest drop in 16-weeks, after being downgraded by Morgan Stanley with the investment bank seeing limited scope to rerate until organic growth improves and key overhangs improve. Analysts are concerned around how the U.K. taxes prize draws from the lottery ticket retailer. With legislative intervention possible we think JIN is too hard ~$6 even if Thursday drip seems harsh on just one analyst downgrade.
Premier Investments (PMV) – has risen steadily over the last month but the sector has has enjoyed a strong period with JB Hi-Fi, Super Retail, Wesfarmers and Nick Scali all up between 15 and 20%. We prefers others relative to PMV ~$15 although some consolidation wouldn’t surprise.
Accent Group (AX1) – has bounced ~50% from its 51c low as UK giant and major shareholder (22.9%) Frasers Group made a hostile bid of 65c a share, below the 71c price on Thursday.
The board has urged shareholders to reject the offer, which in this case makes sense with the stock trading higher although the board made no reference to the stocks 80% plunge over the last 18-months – the exact woeful performance that’s made Frasers make the bid in the first place.
Take a free trial.
No payment details required.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
