MCP 0.00% 81.5¢ mcpherson's limited

MCP - Time to buy

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

    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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Mkt cap ! $104.8M
Open High Low Value Volume
81.5¢ 83.0¢ 81.0¢ $49.30K 60.25K

Buyers (Bids)

No. Vol. Price($)
1 5000 81.5¢

Sellers (Offers)

Price($) Vol. No.
84.0¢ 4023 2
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Last trade - 15.15pm 26/05/2022 (20 minute delay) ?
0.000 ( 1.22 %)
Open High Low Volume
81.5¢ 83.0¢ 81.0¢ 33210
Last updated 14.40pm 26/05/2022 (live) ?
MCP (ASX) Chart
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