I keep assuring myself it can?t go any lower and get stung. I just hope we can get through this bad patch without a capital raising as it would be devastating at current prices.
COF should benefit from reconstruction work in QLD and Christchurch and the turmoil in the middle east will probably result in a more aid funding which could provide some good opportunities for COF?s international development business . Mining investment in Australia is also back in record breaking territory so one would think the new MD has a good chance at turning things around. It will be interesting to see if he cuts lose some of the overseas businesses which seem to consistently underperform.
COF Price at posting:
64.6¢ Sentiment: LT Buy Disclosure: Held
