COA

2007-2008 Australian Budget Impact


Sharemarket analyst Macquarie Research Equities have provided a 2007/2008 Australian Budget Impact statement. Investors who had been eagerly awaiting the release of the 2007-2008 Budget were last night greeted with a host of initiatives that included a significant boost to household disposable income.

Coates Hire (COA): Winner


Coates Hire (COA) was the best performing company this week on the Australian sharemarket (loser of the week for week 17 of 2007) closing the week 18 percent or 95 cents higher, closing at $6.17 after confirming private equity bid approaches. The company took the award this week for the best performing company on the ASX200 index. The industrials are on an average PE of 18.1 times - the highest since the tech boom. The ASX200 index closed at 6304.9 and the All Ordinaries at 6296.2. Coates Hire was also a Loser of the week back in February.

Reporting Season Final Update (March 2007)


Last week, global markets stumbled following reports that China was looking to impose controls to curb its rapidly growing economy and concerns that a soft landing for the US economy may be more difficult than first thought. In the background, the Australian reporting season continued its final week, here are analyst Macquarie Research Equities (MRE) observations and thoughts. The HY December 2006 aggregate earnings reported for the market printed 1.5 percentage points below analyst expectations versus those held at the start of this reporting season.

Coates Hire (COA): Loser


Coates Hire (COA) is the loser of the week (the worst performing company on the Australian sharemarket ASX200 index) for week 8 of 2007. The hire company closed the week at $5.22, losing 89 cents or 14.57 percent.

Non-Residential Cycle


The Non-Residential Cycle is churning and at the moment Macquarie Research Equities (MRE) believes that Australia is in the midst of an up-tick in engineering and non-residential construction spending. Wal King, CEO of Leighton has recently said, "With all of this activity and the opportunities still emerging, it really is difficult to recall a more positive environment for the group.

Coates Hire (COA) Shares Recommendation


Deutsche Bank have rated the Coates Hire (COA) stock with a Buy Recommendation, all the while increasing their share price target from $5.72 to $6.65. The broker had reexamined their numbers following industry discussions and is now working on better growth in FY08 ahead of a slight downturn in FY09, all on a cyclical basis.

Broker Recommendations Rundown


If you wish to use these broker recommendations for trading shares listed on the Australian Stock Exchange, it is highly recommended that you back up your analysis using fundamental or technical analysis or a combination of both before investing in any company.

UBS has a Neutral 2 recommendation for National Australia Bank (NAB) with a target of $35 per share.

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