Computershare downgraded to Hold
This share registry company has bounced 15% in a month, putting it well above our Buy price. We're downgrading to Hold.
Recommendation
Computershare Limited -
CPU
Buy
below 12.00
Hold
up to 18.00
Sell
above 18.00
HOLD at $13.42
Current price
$26.11 at 16:40 (28 March 2024)
Price at review
$13.42 at (11 March 2015)
Max Portfolio Weighting
7%
Business Risk
Medium
Share Price Risk
Medium
All Prices are in AUD ($)
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. That puts it well beyond our $12 Buy price, so we're downgrading back to HOLD.
Note: Our model Growth and Income portfolios hold shares in Computershare.
Note: Staff members own shares in Computershare, but they don't include the author, James Carlisle.
IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.
Recommendation
Computershare Limited -
CPU
Buy
below 12.00
Hold
up to 18.00
Sell
above 18.00
HOLD at $13.42
Current price
$26.11 at 16:40 (28 March 2024)
Price at review
$13.42 at (11 March 2015)
Max Portfolio Weighting
7%
Business Risk
Medium
Share Price Risk
Medium
All Prices are in AUD ($)
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