WorleyParsons Limited
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WOR Details
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Substantial holding by Blackrock: WorleyParsons Limited (ASX: WOR) stock surged over 5.5% on June 08, 2016 driven by the ongoing rally in the oil prices. Moreover, the group reported that Blackrock has a 5% voting power in the group with 12.27 million of shares. WOR stock has rallied over 49.7% during this year to date (as of June 07, 2016) driven by the group’s solid contract wins and recovering oil prices.
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Recommendation: We remain bullish on WOR and issue a “Buy” on the stock at the current price of $7.85
Average contract size (Source: Company Reports)
Metcash Ltd
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MTS Details
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Positive sentiment: Metcash Ltd (ASX: MTS) rallied over 2.3% on June 08, 2016 even though there is no specific news from the firm. The group’s preliminary 2016 results are scheduled on June 20, 2016 and looks like investors have been bullish on the stock which generated over 9.7% in the last four weeks and delivered over 18.5% (as of June 07, 2016) in the last three months.
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Recommendation: We maintain our “Hold” recommendation on the stock at the current price of $2.03
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