It’s my fault … today we have had our offer on the purchase of a house accepted! Less (paper money) in the super kitty after today’s price action!! I was feeling the ‘wealth effect’ prior to market open
Just to be clear … after the last quarterly updates, the following price target re-rates occurred:
Barrenjoey … $23 Morgans ….. $24.50 Goldman Sachs … $22.10 Canaccord Genuity … $26.80 Bell Potter … $20.85 Macquarie … $26.00 (correction to my earlier post)
UBS didn’t come out with any targets that I know of post the previous results.
In addition, The Australian headlines a story titled ‘Chalmers has set a trap for super balances as war brings volatility’. Though a subscriber, I cannot access online only stories but this raises the potential that this unrealised capital gains tax on high super balances will be causing a lot of fancy footwork in repositioning assets ready for the introduction next year if passed. Baseline will be 1 July 2025 and any gain by f/year’s end 2026 above $3M will incur this tax. Therefore, selling at the ‘top’ becomes a temptation. When selling during extreme volatility, shares can spike either way, exacerbating the (paper) gain or loss. I’m making assumptions about the headlines and the story there under.
Cheers … Cazzex DYOR My opinion only
NST Price at posting:
$20.74 Sentiment: Hold Disclosure: Held
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