Welcome to the first episode of the Buy Hold Sell video series for 2018. Each Friday morning two fund managers will share their views on 5 ASX listed companies. Today we’ve pulled out the large caps that received the most votes in our 2018 reader survey. The 5 stocks covered are BHP, CSL Limited, Telstra, Macquarie Group and CBA. It’s an interesting cross section of companies and our panel delivers their views in a concise and fast paced format. Tune in as Matthew Kidman from Centennial Funds hosts Chad Slater of Morphic and John Ayoub from Wilson Asset Management in the latest exclusive brought to you by Livewire.
Key points
- BHP has become a capital allocation story, and is now showing great discipline. Worth noting that its 2019 consensus earnings are below 2018 consensus earnings, so is potentially cum upgrade.
- CSL is now on its highest PE in 5 years, right into a trend of rising rates.
- Telstra faced by growing competition in the mobile space. But perhaps all of the bad news is already in the price.
- Macquarie is in the right place, at the right time, exposed to GDP growth, and higher yields.
- CBA: Where is the earnings growth? And what happens if Labour gets in?
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