Citi Sticks to Its Buy Rating for Metcash Limited (MCSHF)
Citi analyst Adrian Lemme maintained a Buy rating on Metcash Limited (MCSHF – Research Report) today and set a price target of A$3.70. The company's shares closed last Tuesday at $2.18.
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
According to TipRanks, Lemme is a 4-star analyst with an average return of 8.4% and a 63.41% success rate. Lemme covers the Consumer Cyclical sector, focusing on stocks such as Super Retail Group Limited, Wesfarmers Limited, and Premier Investments Limited.
The analyst consensus on Metcash Limited is currently a Hold rating.
The company has a one-year high of $2.85 and a one-year low of $1.53. Currently, Metcash Limited has an average volume of 9,450.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
JPM: institutions, not retail, drove U.S. stock market correction
-- JPMorgan analysts believe that the U.S. stock market correction observed during February and March was primarily driven by institutional, rather than retail, investors. According to JPMorgan, "The decline in the share of retail investors in U.S. equity trading during Feb/Mar suggests that it was institutional rather than retail investors that were mostly responsible for the equity market correction and the heightened trading volumes at the time." JPMorgan notes that the share of retail investors in U.S. equity trading has been "mean-reverting rather than trending up over the past five years" after a significant increase post-pandemic. The historical peak of "31% in December 2020 has yet to be breached," they wrote in a note to clients on Thursday. In the more recent period, from May to June, JPMorgan observes that "the retail impulse subsiding." Instead, the equity market has been primarily propelled by other forces. "With equity-focused hedge funds having rebuilt their equity exposures from April already, it has been mostly corporates via share buybacks as well as macro hedge funds and CTAs that propagated the equity market over the past month." Looking at momentum-driven hedge funds, such as CTAs, JPMorgan indicates that they are "already significantly long equities in our framework," buyt they "still have room to propagate the equity market before they reach overbought territory." In a separate observation, JPMorgan notes that Euro area banks and active Euro bond mutual fund managers "appear to be shorter duration than U.S. banks" and U.S. active bond mutual fund managers, respectively. This dynamic "could provide support for Euro duration vs. U.S. duration." Lastly, the analysts mention that the "anticipation of a favorable U.S. regulatory environment is inducing more crypto IPOs and VC funding." Related articles JPM: institutions, not retail, drove U.S. stock market correction Citi highlights sector opportunities based on recent flows Norway's soviergn wealth fund puts TD Bank on watch over crime risk Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Citi highlights sector opportunities based on recent flows
-- Citi analysts released a "flash update' note based on equity sector flows, highlighting shifting preferences among institutional investors. According to their analysis, long-only managers were net buyers in the last week, primarily acquiring Tech and Consumer Discretionary stocks while divesting from Consumer Staples. The bank added that hedge funds also exhibited net buying activity, increasing exposure to Consumer Discretionary and Consumer Staples but selling Materials, Energy, and Communications. Based on the recent flows, Citi's model is said to favor Real Estate, Communications, and Consumer Discretionary over "Health Care, Financials, and Consumer Staples. 'Long-only managers were sellers in the past two months, selling Health Care, Financials, Consumer Staples, while buying Real Estate, Communications, and Consumer Discretionary,' said Citi. Meanwhile, a broader view of the past month is said to show both long-only and hedge fund managers as overall net sellers, reducing exposure in Financials, Health Care, and Tech but increasing positions in Communications, Industrials, and Materials. Citi's "market-implied regime analysis using our macro-clustering framework suggests that market internals most closely resemble the tech-friendly 'Goldilocks' regime as Tech has continued to outperform." This "Goldilocks" regime is said to indicate a period of stable growth and contained inflation, which is generally favorable for technology stocks. The analysts further explain that "AI trade is making a comeback with the Trump administration's decision to rescind the Framework for Artificial Intelligence Diffusion, supporting Tech sector strength." Citi's framework also shows that relative sector returns over the last month "continue to most closely resemble what is typical in the tech-friendly 'Goldilocks' regime," while the "Tightening Financial Conditions' regime remains the least correlated." Related articles Citi highlights sector opportunities based on recent flows Activist investor Palliser Capital reportedly builds 5% stake in WH Smith Norway's soviergn wealth fund puts TD Bank on watch over crime risk
Yahoo
3 hours ago
- Yahoo
Quantum stocks higher as Nvidia CEO sees ‘inflection point'
Quantum computing technology is at an inflection point, Nvidia (NVDA) CEO Jensen Huang told the VivaTech conference in Paris on Wednesday, adding that quantum computing will solve 'some interesting problems' in the coming years, Reuters' Supantha Mukherjee reported. The comments sound like a change in tone given that months ago Huang had offered his opinion that 'very useful' quantum computers are likely decades away. Shares of quantum computing stocks moving higher in early Wednesday trading following Huang's comments include D-Wave Quantum (QBTS), IonQ (IONQ), Rigetti Computing (RGTI) and Quantum Computing (QMCO). Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on QBTS: Disclaimer & DisclosureReport an Issue D-Wave enters agreement to sell up to $400M shares from time to time D-Wave Quantum Enters $400M Sales Agreement IBM Announces Plan to Build World's First Large-Scale Quantum Computer Trump Trade: U.S., China representatives to meet about trade D-Wave Quantum's Stock Surges Amid Strategic Moves Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
