Orica (ORI) HOLD
The earnings downgrade cycle looks to be ending, with business performance improving and higher volumes coming through for ammonium nitrate. Management is focusing on costs and profitability.
Insurance Australia Group (IAG)
It looks cheap and oversold.
The market was spooked by the recent earthquake in Victoria, but this should not be a material insurance event and we see the stock recovering.
Has seen recent strength with the rise in energy prices. It is still good value and Santos is advancing its transformative merger with Oil Search.
Transurban Group (TCL)
Undertaking a capital raising to fund its share of Sydney’s WestConnex toll road network. Existing shareholders should look to take up their rights.