If there is no bad news then this stock is becoming very very...

If there is no bad news then this stock is becoming very very cheap. I had to get on board today even though the chart looks terrible (the market appears to expect catastrophe!)

The MD has assured one of the posters in writing that he is confident in their guidance. He has presented twice in the last month (check out www.brr.com.au) and confirmed outlook.

He will be able to reassure the market again at the AGM this week.

Trident Confidential had a buy on this stock and everyone was then stopped out with a plunge to $1.45. I am very contented Trident subscriber - they are great stock pickers but for Aus stocks I enter and exit based on my own assessment). They reissued a buy sub $1.60 this week - I am wondering whether traders are trying to trigger set stops again. I have written to Trident and suggested that published stop levels are making them a target - the same thing has happened with other newsletters in the past and they have changed their approach to flash alerting subscribers at a stop level rather than identifying the target.

Macquarie issued update on CSV yesterday:

Macquarie 19/11/2010 1 Outperform $2.66 76.7%
The broker has reviewed its outlook for CSG and a slower than expected ramp-up in industry IT spend has led to a reduction in forecast earnings of 13% and 9% in FY11-12.

Target falls to $2.66 from $3.04 but Outperformed maintained given the market is already giving CSG short shrift.


Target price is $2.66 Current Price is $1.54 Difference: $1.12
If CSV meets the Macquarie target it will return approximately 73% (excluding dividends, fees and charges).



Good luck to all holders.

Cheers

JL