Listed Credit - Time to get on the front foot
Listed Credit - Time to get on the front foot. The recent correction of the ASX200 index, coupled with four hybrid transactions, has seen prices of a number securities fall sharply. We had anticipated new issuance and suggested active investors trim positions in July ahead of new supply. For those investors that were waiting for lower prices before entering positions, we believe now is the time and see good value for longer-term income investors. We have upgraded the recommendations on ANZPD, NABPB, SUNPC and WBCPD to Add (from Hold). (VIEW LINK)
Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.