Market looking attractive
The Australian share market is looking attractive enough for investors to make a return on the expectation of a recovery in 2011, according to a new analyst report released by Credit Suisse.
The report suggests that while the current company reporting season may see a decline in earnings per share (EPS), “the market is looking attractive enough for investors to position for a financial year 2011 EPS recovery".
“In our view, there is limited downside to the market from current levels, but plenty of medium-term upside,” the analysts’ report said.
It said in the current financial year, the EPS of the Australian Stock Exchange 200 (ASX 200) was likely to stabilise as current overvaluation corrected and credit growth stabilised.
The analysis said that by financial year 2011 economic recovery was likely to be well underway, consistent with significant EPS upgrades.
AUTHOR
Mike Taylor
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
