Ideas

There is no change in our forecasts for Uniti which we last updated at the release of the FY21 result in August. At our updated PT of $4.75 the total expected return is only 2% so we downgrade our recommendation from BUY to HOLD.

WSA has entered into a Scheme Implementation Deed (SID) with IGO Limited (IGO, under review) under which IGO will acquire WSA for A$3.36/sh in cash, by way of a scheme of arrangement.

There is not much difference in the Chairman’s address, being about COVID-19 and work continues in respect of performance and future of the business.

There is no change to our Buy rating. We see NUF as better placed to navigate a normalisation in Australian demand levels, given recovering acreages in North America and Europe.