Credit Corp Group Limited
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CCP Details
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Improving pricing leading to better forecasts: Credit Corp Group Limited (ASX: CCP) continued to rise over 5.2% on May 13, 2016 leading to a total surge of over 9.27% in the last five days alone, driven by the group’s enhanced guidance. Management stated that the major debt buyers reported ‘rational’ pricing and better returns. Accordingly, the group improved its May 2016 guidance in the range of $225 million to $230 million against their earlier guidance of $185 million to $195 million issued in January with regard to PDL acquisitions.
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Recommendation: We believe that the recent rally in the stock placed them at higher levels, and hence we give an “Expensive” recommendation at the current price of $11.29
Credit Corp Group improving performance (Source: Company Reports)
Mineral Resources Limited
MIN Details
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Strong iron ore exports: Mineral Resources Limited (ASX: MIN) surged over 5.7% on May 13, 2016 even though there is no specific update from the firm, leading to overall gains of over 14.1% in the last four weeks. The group reported Iron ore exports of 3.09 million tonnes during the March quarter, while its two operating mines delivered a record 3.12 million tonnes for the quarter which is strongest output from September 2015.
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Recommendation: Trading nearly at 52 week high, we believe that the stock is “Expensive” at the current price of $7.53
National Storage REIT
NSR Details
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Expanding business via acquisitions: National Storage REIT (ASX: NSR) rose 1.9% on May 13, 2016 leading to over 4.72% increase in the last five days. This rally in the stock was mainly driven by the group’s acquisition of multi-storey self-storage asset in South Melbourne, Victoria, which has 725 units over 4,800 sqm of net lettable area across four levels as well as a telecommunications tower which would generate a further income to the group.
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Recommendation: Given the group’s efforts to generate multiple revenue streams, we believe the stock would rise further and hence give a “speculative buy” at the current price of $1.885
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National Storage competitive position (Source: Company Reports)
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