Morgan Stanley’s M&A hit list: Lendlease tops targets, Wisetech acquirers Anthony Macdonald, Sarah Thompson and Kanika Sood
Jan 31, 2023 –
Morgan Stanley’s Australian equities strategists reckon RBA will pause its rate rises in March and M&A will be back after June, so they’ve lined up some ideas on which ASX-listed companies are hot to lob or attract bids.
The RBA’s a factor in the M&A cycle, according to Morgan Stanley’s number crunchers. AFR
Lendlease, St Barbara and Westgold Resources topped the M&A targets list, after putting them through what the strategists officially called the “MS Macro + Strategic Value Screen”.
It’s a lot of words but the bank’s equity strategists Chris Nicol, Antony Conte, Chris Read and Paul A Basha used four main filters: valuation (with an eye on price/book and enterprise valuation discounts to the past three years), where the company was in its capex cycle, share registry composition and deal levels in an industry.
WGX Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)