Collected Wisdom

This week we look at Qantas, Incitec Pivot, Macquarie Group, CSR and Orica.

Summary: More newsletters believe Qantas remains undervalued despite the airline’s already impressive rally, but they don’t think the same for fertiliser and explosives maker Incitec Pivot following its interim result. Elsewhere, the prospects for Macquarie Group continue to be positive (but does its share price capture this?), CSR’s return on capital may be unsustainable and Orica is likely to be supported by its share buy-back and attractive dividend yield, newsletters say.

Key take-out: While the favourable outlook for Qantas is more than understood, the airline still appears cheap compared to other airlines and there is scope for further earnings upgrades.

Key beneficiaries: General investors. Category: Shares.



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