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Buy, hold, sell: Six beaten-down stocks ready for a rebound

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Two fund managers share their views on four of the S&P/ASX 200’s most beaten-down stocks in 2022, and two they believe are poised for a rebound over the year ahead.

Hello, and welcome to Livewire’s Buy Hold Sell. I’m Ally Selby. They say you should buy when there’s blood in the streets and there’s certainly a lot of that going on at the moment. So today we thought we’d take a look at some of the ASX’s most beaten-down stocks to see which ones, if any, could be poised for a turnaround in 2022. Today, we are joined by Simon Conn from IML and Bruce Williams from Elston.

First up, we have accounting software provider, Xero, which has seen its share price fall around 21 per cent since the beginning of the year. Simon, I might start with you. Is it a buy, hold, or sell?We think Xero is a sell, just on valuation grounds. It’s trading 134 times PE. It’s very, very fully priced and we think it’s a stock that, if you see the price appreciation in its share price, has been fuelled by low-interest rates and people paying a lot for earnings way out in the future.

 

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