My HOT Stock – Incitec Pivot (IPL)

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CMC Markets’ Chief Market Strategist, Michael McCarthy likes Incitec Pivot (IPL), despite last week’s decision to close its Victorian phosphate plant. “Plagued by the Australia wide droughts, and yet to receive the benefit of the turn in the mining cycle, some may view IPL as hitting a cycle low,”  he says.

“With potential upside from both its main areas of operation, there is a contrarian play here. Note that many analysts revised valuations last week, but most are still above the current share price,” he adds.

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