Computershare downgraded to Hold

This share registry company is up 20% since we recommended it in December. We're downgrading to Hold.

When we reported on Computershare’s interim result last month, we explained that the investment case had changed somewhat: 'Instead of needing an increase in corporate activity and higher interest rates,' we wrote, 'we can get by with just hoping for them and exercising patience – something we have plenty of’.

Well we haven’t needed much of it so far, because the stock has added 15% in a month and is now up 20% since we recommended buying in December. That puts it well beyond our $12 Buy price, so we’re downgrading back to HOLD.


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