NAOS: Downgrades tell a story on the economy

Sebastian Evans, CIO of NAOS Asset Management, says looking through the current economic data sets to a company specific level the picture is still quite concerning. “The thing that really stands out for me is that we have had some interesting downgrades and company specific downgrades. The ones that stood out for me were Channel 9 on Friday, Qube logistics aswell and you have had the retailers - Oroton had a downgrade and there have been about three others. I think going in to reporting season that is cause for concern… When you have logistics companies, retailers and advertising that are all very intertwined with the economy it’s cause for concern in my view.” Evans says from the conversations he has been having with companies the main issue remains around revenue growth. On opportunity on the ASX he says investors need to be cautious but says the banks are now starting to offer some value


MORE ON



The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.