DJ MARKET TALK: Australian Investment Banks At Bargain Levels
0343 GMT [Dow Jones] Australian investment banks/companies down sharply on risk aversion, but now offer great value according to traders. Financial engineers have had blow torch applied amid subprime crisis, yet major Australian financials exposure is limited. Analysts holding firm on buy recommendations. Macquarie (MQG.AU) down 4.9% at A$66.50, Babcock & Brown (BNB.AU) down 5.90% at A$21.00, Allco (AFG.AU) down 8.8% at A$4.57. Consensus on MQG is strong buy, with median price target of A$107.80. BNB also rated strong buy with A$33.75 price target. AFG rated buy with A$12.10 price target. Options traders say they are happy to sell puts, with view to take up stock, amid extremely high volatility. (DWR)
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(END) Dow Jones Newswires
January 15, 2008 22:43 ET (03:43 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.
Wednesday 16 January 2008 14:43:33:210 AEST
consensus value 12.10
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Last
$1.41 |
Change
0.015(1.08%) |
Mkt cap ! $381.7M | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.42 | $1.38 | $420.6K | 300.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 895 | $1.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 35678 | 1 |
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| AFG (ASX) Chart |