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Can you please give me your expert opinion on Medibank. Are the shares worth holding, or, should I switch to some better performing company?
Also, your views on Slater and Gordon?
A: Personally, I think I called MediBank incorrectly – so I may not be the person to ask!
I sold out shortly after the IPO at $2.15 – had no expectation that it might hit $2.59 – so in some ways, I am not that surprised that it is now back at $2.06.
I still feel it is overpriced. It is a cost out story – not a growth story. As an annuity stock with a fully franked dividend, the yield is not that exciting.
I wouldn’t be buying yet – maybe around $1.80.
The brokers are a little mixed. According to FN Arena, sentiment is marginally negative at -0.4 (scale -1.0 most negative to +1.0 most positive). The consensus target price is $2.21 – which is about 7% above the current share price.
Hope this helps.
