Is Chemist Warehouse set to become the biggest ASX IPO in 7 years?
Brendon Lau | February 19, 2021 10:27am |
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Chemist Warehouse is taking a step closer to an initial public offering (IPO) in what could be the hottest float on the ASX in years.
Even investors who aren’t keen on participating should take note. The health of any bull market can be often be measured by the IPO market.
On that front, Chemist Warehouse is creating a buzz. The
Australian Financial Review reported that it is preparing to send out a formal request for proposal to investment banks.
Goldman Sachs, its analysts have retained their
sell rating and $68.54 price target on this stock exchange operator’s shares. This follows the release of a mixed update for the month of December and calendar year 2020. While the broker feels recent weakness in its share price means that risks are now being more appropriately reflected, its shares have not fallen enough for a change of rating. The broker still feels they are overvalued at the current level. The ASX share price ended the week at $72.75.
A note out of the
Macquarie equities desk reveals that its analysts have retained their
underperform rating and 34 cents price target on this gold miner’s shares. The broker notes that Dacian Gold outperformed its expectations in the December quarter despite facing some operational disruptions. However, due to the broker’s subdued outlook for the gold price, it isn’t in a rush to make any changes to its recommendation. The Dacian Gold share price last traded at 54 cents.
Citi have retained their
buy rating and $24.00 price target on this investment platform provider’s shares. The broker points out that the company has signed an agreement with
IOOF Holdings Limited (ASX: IFL). While it sees some risks from the deal, overall it views it as a positive. In addition to this, the broker believes HUB24 is well-placed to benefit from the ongoing structural shift in wealth management. The HUB24 share price is changing hands for $20.82 on Thursday.
A note out of
Morgan Stanley reveals that its analysts have retained their
overweight rating and $3.15 price target on this private health insurer’s shares. This follows the decision of the Federal Government to authorise a 3.25% increase in its premiums in 2021. It believes this is a positive for Medibank, though acknowledges that increasing premiums could lead to affordability issues for consumers. The Medibank share price is changing hands for $3.01 on Thursday afternoon.