Monday, March 14, 2011

Share Price Alert: Steel & Tube Ltd

Give to those affected by the Christchurch Quake here

Like Fletcher Building Ltd [FBU.NZX] Steel & Tube Ltd [STU.NZX] share price has been swept away by speculation over how much revenue the company will gain in the rebuilding of Christchurch after the February 22 Earthquake.

Since February 22 STU shares have put on 29c or around 13% to close at $2.54 last Friday. This is after gaining a similar percentage in share price since a late November 2010 price of $2.05c.

I see the worst of STU being behind it after a deep building recession and the Christchurch rebuilding will have a substantial positive material impact on revenue and profit from early 2012 through the next 5 years as the city is slowly reconstructed.

STU shares have come off recent highs of $2.65 and any further weakness should see medium to long term investors ready with their cash management accounts topped up and ready to go.

Buy on any weakness.

Disc I own FBU & STU share in the Share Investor Portfolio.

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