Bradken downgraded to Hold

On no discernable news, Bradken’s share price has risen 33% since we upgraded it in Time to buy mining services? on 26 May 14 (Speculative Buy – $3.36). There's been vague talk of takeover offers from industry and private equity but we suspect that the business was simply cheap and the market too pessimistic. It's a good reminder that we don't have to invent reasons to buy cheap stocks: cheapness is its own catalyst. Our five chosen mining services stocks have performed well since being upgraded – only Emeco is down and the others are up by varying degrees. Words of cautious encouragement are...

On no discernable news, Bradken’s share price has risen 33% since we upgraded it in Time to buy mining services? on 26 May 14 (Speculative Buy – $3.36). There's been vague talk of takeover offers from industry and private equity but we suspect that the business was simply cheap and the market too pessimistic. It's a good reminder that we don't have to invent reasons to buy cheap stocks: cheapness is its own catalyst.

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