Sims Metal has highlighted the increased value of the material in waste streams, flagging a significant diversification from its core scrap metal business.
A combination of AP Eagers and Automotive Holdings will provide a competitive advantage, brokers agree, against smaller fragmented competition. Yet, AP Eagers is offering a minimal premium.
Several brokers suspect they are being conservative regarding the potential of the berry plantations Costa Group is developing in China.
Separating out GrainCorp’s malt business has its appeal, brokers acknowledge, but the devil is likely to be in the detail for the remaining integrated grains & edible oils.
The pressure on bank margins is unlikely to abate soon and brokers find it difficult to be overly positive about the sector.
The Iron Bridge magnetite project has strong economics, brokers acknowledge, but this depends heavily on Fortescue Metals obtaining a significant premium to benchmark pricing.
Incitec Pivot has provided further detail on the financial impact of the myriad problems impacting in FY19. These are mostly considered one-off issues and a better FY20 is expected.
Charter Hall Retail will acquire Rockdale Plaza, providing an opportunity for both non-rental income and improved mix of stores.
While a buyback is pleasing and should underpin the stock in the short term, brokers suspect the closure of struggling Big W stores may not be enough to counter the headwinds facing Woolworths.
Charter Hall Education Trust has acquired 13 early learning centres in various stages of development, providing an attractive growth path.