Adelaide Brighton keeps coming up when I am looking around at good stock picks. Both Aegis and Comsec have rated it as quite a promising stock and have strong buys.
Again, on tonights "Aegis Weekly Focus" it appears again:
The chart looks like fun for intraday/intraweek week trading. I may have a go if we can get an entry below $3.50.Adelaide Brighton (ABC) posted a record FY07 result. Sales and EBIT (excluding share of net profit of joint ventures) increased 12% each, while adjusted NPAT saw a 14% increase in FY07. Given many of ABC's facilities are now running at capacity and ABC is facing continued high energy costs,
we have cut our EPS forecasts by 10% and 15% in FY08 and FY09, respectively. However, our sales revenue forecasts remain strong and we maintain our BUY on ABC.
Anyone else have further thoughts on ABC?