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Queries on ABB and NIC

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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    Queries on ABB and NIC

    Hi MM, Some quick queries as I am on my phone for two quite different stocks: what is MM's respective views on ABB and NIC following their recent quarterly reports, including approximate price targets at which to potentially buy or top-up these stocks? While I don't have these in front of me at the moment, from memory there were certain broker concerns and/or downgrades (or at least price target reductions) for both stocks. I also note a recent relatively substantial director sale for ABB in relation to P Britt (via a related company). Thanks Darren

    Answer

    Hi Darren,

    Aussie Broadband (ABB) $3.64: ABB recently released its first-quarter trading update for FY25, they reported a growth of 22,119 broadband connections, a 21% increase from the previous quarter. This expanded the company’s market share of NBN to 7.60%, up from 7.38% at the end of the previous quarter. We liked the result as did the market, but the stock has drifted back in similar fashion to the ASX.

    • We like the risk/reward towards ABB around here.
    • In terms of selling by co-founder Phil Britt, we aren’t concerned, he still owns over 5% of the company.

    Nickel Industries (NIC) 92c: NIC fell the most in 20-weeks after this week’s quarterly update which led to downgrades by Jefferies while Macquarie raised their PT, that’s what makes a market!

    • We like the risk/reward towards NIC around 90c believing the 10% pullback to be excessive.
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    Nickel Industries Ltd (NIC)
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