a watchlist contender., page-2

mcg more than just watchlist imo
For a stock to be going up in this environment its doing something right.
First id like you to check the chart on this one and after that then check the market depth,first in best dressed.
This one will be $3 soon.

Enjoy the ride!!




Broadcast Australia has an aggressive rollout strategy for calendar 2003. It plans to add an additional 115 new digital services for the ABC, SBS and other regionals. 93% of Broadcast Australia's revenue for FY03 to FY05 is now fully contracted.



In relation to some (internal) suggestions this morning regarding acquisitions. 'nothing on the horizon', 'continue to wait for the right opportunity' and 'don't want to dilute the dividend yield' were direct comments from the CEO. We hold our view that MCG won't be looking for acquisitions in the short to medium term.



We are maintaining our Strong BUY recommendation on MCG. At current prices of $2.48, MCG is trading on a FY03 dividend yield of 6.16%, a 20% discount to our $3.10 valuation and an IRR of 12.6%.