DAVY VIEW

Growth, scale and earnings momentum remain the big drivers of share price performance in the current market environment. Valuation considerations appear to have taken a back seat – for now. In these days of scarce newsflow, our focus (aka idle minds!) shifts to identifying investment opportunities or anomalies that might have emerged amid the panic of recent months. We have identified a few names which, while not satisfying size or scale filters (i.e. small caps!), have been left behind in terms of share price performance and could provide some decent upside over time. These names include CPL Resources, Hibernia REIT, IRES REIT, Mincon and Total Produce.