Downer EDI is now under Algo Engine buy conditions and was added into our ASX 100 model portfolio.
We are comfortable with DOW’s broader business, given the track record of earnings delivery. The recent issues DOW encountered within the solar and engineering projects were absorbed within FY19 guidance.
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FY 20 earnings should deliver 8% EPS growth, which places the stock on a forward yield of 4.5%.
Downer EDI offers value within the $6.75 – $7.00 range.
