Between the Bells
Morning Bell 29 May
May 29, 2020
Bell Direct
Today the Aussie share market is eyeing a 0.3% fall at the open. The ASX200 closed at a 12 week high yesterday, only 18% off its all time February high.
What to watch today:
- Machine learning & voice recognition company, Appen (ASX:APX) holds its AGM today
- Fruit & vegetable company, Costa Group (ASX:CGC) holds its AGM too
- Private capital borrowing numbers for April
- U.S President Trump's speech later tonight on the U.S-China tensions
Bell Potter trading ideas:
- Bell Potter upgraded Emeco’s (ASX:EHL) price target to $1.52, implying a 40% share price growth after it handed down strong full year earnings estimates despite COVID-19, beating many expectations.
- Graincorp (ASX:GNC) was reiterated as a buy by Bell Potter, increasing its price target to $4.85, implying a 14% growth from yesterday’s close after Graincorp’s earnings estimates for FY21 remain on the upside.
- WiseTech (ASX:WTC) was reiterated as a sell, with Bell Potter expecting its shares will fall to $17.50.
In today's morning bell, Jessica covers:
- Global markets - (0:00)
- Local markets - (0:52)
- What to watch today:
- Appen (ASX:APX) - (1:13)
- Costa Group (ASX:CGC) - (1:38)
- Private borrowing data for April - (2:00)
- Bell Potter trading idea: Emeco (ASX:EHL) - (2:22), Graincorp (ASX:GNC) - (2:48) & WiseTech (ASX:WTC) - (3:03)