McMillan's Abbott boost
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
This morning Citi Research upgraded its view on salary packaging and vehicle leasing administrator McMillan Shakespeare (MMS) to a buy from a sell.
The change in rating is based on Citi’s bold view that the Coalition will be victorious at the September 7 election. If Sportsbets odds, referenced by Citi, are anything to go by the coalition is a shoe-in come September.
McMillan has jumped in early trade at the thought of a change in government, with the stock tacking on over 80 cents to $11.08 in early trade. In just over an hour of trade more than 900,000 shares have traded hands, around half of the average volume over the past week as investors align with Citi’s views.
Who knew the view of one research house could move the market so convincingly in such a short time? This is made all the more astounding given the views are based on a political outcome – Australian politics has been far from predictable.
Of the other research houses following McMillan, only Ord Minnett has a buy, albeit a ‘speculative buy’.
Perhaps Initial concerns about the current government’s plans to change the existing fringe benefit tax laws were overdone. McMillan has gained over 30% after hitting a low of $8.13 on July 31.
Citi have a target price of $12.60, which is well below the $18.00 high McMillan was trading at before fringe benefit tax changes were announced (see John Abernethy's McMillan Shakespeare: tragedy or farce?).
McMillan report on 27 August.
Call 1300 880 160
Start a chat
Schedule a call
