Short term price targets for various stocks

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Question asked 28/08/2021

Short term price targets for various stocks

Hi Guys,

I would welcome your outlook and short term price targets for the following stocks - ALL, BHP, CBA, CSL, FMG, MQG, REA and RIO.

Many thanks.

Regards

Cameron A.

Answer

Hi Cameron,

Please excuse the brevity here but obviously this is a lot of questions rolled into one:

Aristocrat (ALL) looks good and if we were still long it would be case of enjoying the ride while it holds above $42
BHP Group (BHP) struggling at present after recent results and announcement about UK shares but we like the companies long term direction and remain optimistically long – our target of ~$60 remains.
Commonwealth Bank (CBA), we remain bullish and long ultimately looking for a break of $110 but we are happy to have reduced our position.
CSL Ltd (CSL) looks great and we are happily long looking for ~$350+, short-term the stock should hold above $299.
Fortescue Metals (FMG) has corrected back towards $20 as we flagged it might but around here we are now neutral to positive although we prefer BHP & Oz Minerals (OZL).
Macquarie Group (MQG) looks great, stay long with stops under $160.
REA Group (REA) we are neutral / negative this property stock, another 5-10% downside would not surprise. We prefer DHG.
RIO Tinto (RIO) feels similar to FMG, its ok around $110 and yields well but from a growth perspective we prefer the other Australia miners.

chart

Aristocrat Leisure (ALL)

LAST UPDATED 27/08/2021 17:57

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