From The Australian come another sell-side update to one of the MB’s favoured themes:
Internationally exposed companies generally gave the most positive presentations at the Macquarie Conference last week, with offshore expansion opportunities a key theme, Macquarie says.
Among companies highlighting offshore growth opportunities, Macquarie points to Ramsay Healthcare (RHC), Resmed (RMD), Lend lease (LLC), Computershare (CPU) and SAI Global (SAI), Asciano (AIO), Healthscope (HSO), Cover-More Group (CVO), Pact Group (PGH), Lovisa Holdings (LOV), Invocare (IVC) and McMillan Shakespeare (MMS).
“On average, we continue to see the strongest earnings growth outlook for those companies with meaningful offshore exposure,” the broker says.
“Overall demand conditions in Australia remain subdued with most companies confirming operating conditions are still challenging. Critically however, outside of resources, the environment does not appear to have deteriorated further over the last 12 months, nor are companies expecting conditions to worsen from here.”
