Buy Hold Sell

In this week’s episode of Buy Hold Sell, Ben Clark from TMS Capital and Alex Leyland from Leyland Private Asset Management share their view on three stocks that surprised to the upside this reporting season.

Key Points

  • Janus Henderson is trading at about 14x earnings while growing at around 5%. This compares favourably to its competitors.
  • The earnings growth outlook for CIMIC is weak, yet the stock is trading at around 20x earnings. Could be vulnerable to a pullback in infrastructure spending on the east coast.
  • Packaging manufacturers like are “infallible to disruption” and demand a premium for the defensiveness, but Orora looks fully priced at the moment.
  • Ben Clark from TMS Capital singled out Challenger as an underappreciated result. Challenger benefits from structural growth, has strong management, while the relationship with MS Primary in Japan provides long-term upside.
  • Alex Leyland shares one result that stood out to him this reporting season.

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