Fairfax: Tracking contributors' calls

Alex Cowie

The Fairfax journey has been well covered by Livewire’s contributors over the last six months, with some early positive calls for the stock. In this wire, we track the commentary starting last November when it was trading at just $0.79, through to yesterday's close at $1.14.

MADELEINE BEAMONT, Black Rock, Nov 14 2016, Price: $0.79

“The market is valuing Fairfax’s print assets at negative $400 million, we think this is irrational and based on emotion rather than facts”: (VIEW LINK)

DARREN ODELL, Foster Stockbroking: Feb 23, Price: $0.93

“On a sum of the parts basis, we value FXJ at $1.40 per share. The current share price of $0.95 appears well under-pinned & fails to reflect any additional wins in its transition to a new world organization. At these levels, FXJ is a likely acquisition candidate": (VIEW LINK)

GEOFF WILSON, Wilson Asset Management, During Buy Hold Sell Live, April 13: (at 2’58”), Price: $1.03:

“Fairfax: We think it’s a buy. We think it’s cheap. You read the AFR articles. Where there’s smoke there’s fire. Something will happen there.: (VIEW LINK)

HAMISH CARLISLE, Merlon Capital, April 21, Price $1.02

“There is no doubt that Fairfax Media falls into the low growth basket of companies that, statistically, suggests that the market may have become too pessimistic”: (VIEW LINK)

LUKE CUMMINGS, Harvest Lane Asset Management, May 15th: Price: $1.14

“Given the fact that FXJ shares are trading at a small discount to the terms of the proposed offer, it would seem that for now the market agrees with our view and has deemed that the current deal is too conditional and far from certain to proceed. Of course, the market is not always right and therein lies the opportunity. For now, we are happy to keep the stock on our radar and see how things unfold in the coming weeks.”: (VIEW LINK)

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Alex Cowie

Alex has a decade in the production and distribution of research for financial institutions and investment publications. He supported Livewire at its launch before then joining the team as Editorial Director.

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