MCP 3.39% $2.85 mcpherson's limited

MCP - Time to buy

  1. 224 Posts.
    Below is the tricom rec from last week.

    MCPHERSON'S (MCP)
    MCP recently broke out of top end of a trading range when it went through 1.80.

    Even though it is now at 2.00, the potential is for further gains.

    MCP has two major divisions, housewares (which because MCP is an importer recent AUD strength is a bonus) and printing (which recently renewed its phone book contract with TELSTRA until 2008).

    MCP appears cheap, with a p/e of just 8 times and a fully franked yield of 6%.

    MCP reminds us to some extent of GUD HOLDINGS and COATES HIRE in a technical sense, both of those stocks having undergone massive upside re-ratings over the past 6 months.

    MCP is underowned by institutions, with major shareholder being Richard Pratt's THORNEY INVESTMENTS, which has recently had great success with the takeover bid for SNACK FOODS.

    We regard MCP as a buy between 1.80 and 2.00. Stops below 1.70. In the short-term we see the potential to the mid to high 2.00s and would not be surprised by further gains over time.

 
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Last
$2.85
Change
-0.100(3.39%)
Mkt cap ! $315.1M
Open High Low Value Volume
$2.97 $2.97 $2.84 $134.0K 46.15K

Buyers (Bids)

No. Vol. Price($)
5 7278 $2.83
 

Sellers (Offers)

Price($) Vol. No.
$2.85 3234 6
View Market Depth
Last trade - 15.33pm 23/01/2020 (20 minute delay) ?
(live)
Last
$2.84
  Change
-0.100 ( 4.05 %)
Open High Low Volume
$2.94 $2.94 $2.84 455110
Last updated 15.43pm 23/01/2020 (live) ?
MCP (ASX) Chart
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