Peter Quinton, Director of Research at Bell Potter, has provided his take on favoured cyclical stocks ahead of reporting season
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Peter Quinton, Director of Research at Bell Potter, has provided his take on favoured cyclical stocks ahead of reporting season. Looking forward, Quinton says, cyclical stocks could easily exceed the analysts current earnings expectations and continue to deliver superior share price performance. Gains will depend on economic growth upgrades and with that in mind Quinton says cyclical stocks are likely to be volatile over the coming months as evidence of economic growth waxes and wanes. Quinton insists on stringent stock selection guidelines along with an element of patience. Companies should be over $1 billion market cap, have strong earnings upside to economic growth upgrades, healthy balance sheet ratios (such as net debt to shareholder funds, interest cover) and investors should be aware of the impact of the moving currency. These are some of Quinton's favoured cyclical stocks: Macquarie Group, IOOF Holdings, Myer Holdings, Fairfax Media, Flight Centre and Seek
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