ASX:PWH

PWR HOLDINGS LIMITED

Equities
Andrew Tang

Equities have continued to recover from their sell-off late last year; income-oriented asset classes like property and infrastructure have been in strong demand and this will likely be prolonged as rate cuts are increasingly priced in.Looking ahead, the most likely scenario is that the global economy will find ways to... Show More

Andrew Tang

We have spoken about market abnormalities and the risk of fresh volatility for some time. Overall we think current weakness will prove to be another 'reality check' for a market that had run a little ahead of itself, rather than a precursor to something more serious. The increased volatility in... Show More

Andrew Tang

The ASX 200 Accumulation index returned a respectable 15.4% at the close of reporting season, and is poised to return a similar amount over the next 12 months if all goes to plan. Factset consensus forecasts anticipate another year of 7.2% earnings growth at a dividend yield of 4.6% which... Show More

Andrew Tang

In our reporting season preview, we noted that the spread in consensus forecasts was very narrow and the potential for beats and misses versus market expectations was lower than normal. It is this dynamic that foreshadowed many of the results across our coverage universe, where results were mostly in line... Show More

Andrew Tang

Investors are waiting for a circuit-breaker. Stretched valuations limit upside potential for a further re-rating of the market multiple (15.8x 12month forward PE, Industrials ex-Financials at 21.8x) and without clear earnings momentum in either direction the market is likely to remain rangebound. Show More

Andrew Tang

Economic growth overall is still supportive for equities, and we currently expect the ASX200 to edge higher to 6200 by year-end. The outlook however, particularly this late in a sustained global business cycle, is becoming more vulnerable to various risks, notably higher bond yields and geopolitical issues. Show More

Andrew Tang

Stock investors have enjoyed an extended bull market since March 2009. It was particularly enjoyable during 2017, when the ASX 200 Accumulation Index rose by 11.8% over the year. Such an impressive return is quite extraordinary for an aging bull market going on nine years in 2018. The music seemed... Show More