Sandstone Insights: bank share buybacks and top stock picks
Discover the latest investment strategies from Sandstone Insights, highlighting the $8 billion share buybacks by the big four banks and key stock recommendations, including Worley Limited, Mineral Resources, and Xero for 2024.
This video was recorded by Sandstone Insights on 9 May, 2024.
Need to know
- Australia’s Big 4 Banks' on-market share buybacks now total $8 billion.
- The sell-down by major shareholder Dar Group puts Worley (WOR) share price at an attractive entry price of approximately 15x FY25 PE ratio, still at a discount to global peers.
- A stretched valuation for Evolution Mining and positive catalysts ahead for Mineral Resources.
- Falling rates and inflation threaten Computershare's earnings base. Xero's focus on profitability could lead to earnings growth.
The information provided by Sandstone Insights does not constitute investment advice and does not have regard to the specific needs of any person who may receive it. No warranty is given as to the accuracy or completeness of the information and any person acting on it does so entirely at their own risk
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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