Fairfax Media Limited
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FXJ Details
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Shares release from escrow: Fairfax Media Limited (ASX: FXJ) stock fell over 3.7% on July 01, 2016. The group recently reported that out of 68,519,821 ordinary shares issued, 57,916,616 shares were subject to escrow arrangements and 28,958,321 shares were to be released from escrow on July 01, 2016. On the other side, the group is making exclusive discussions with APN regarding the potential merger of their respective New Zealand businesses. Meanwhile, FXJ stock rallied over 11.4% in the last three months (as of June 30, 2016) and trading at a decent dividend yield. We believe investors could leverage today’s correction as an entry opportunity in the stock.
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Recommendation: We give a “Buy” recommendation on the stock at the current price of $0.895
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Domain Group’s Growth (Source: Company Reports)
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