In case, like me, you’re wondering why Codan’s share price was up 8% on no news this morning, the share price jump could have been driven by UBS initiating coverage on Codan with a BUY rating and a $13.10 price target. James Mickleboro from The Motley Fool shared this broker note out of UBS this morning:

https://www.fool.com.au/2024/06/13/why-bubs-codan-life360-and-sayona-mining-shares-are-charging-higher/

“The Codan share price is up 8% to $11.53. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has initiated coverage on the metal detector manufacturer's shares with a buy rating and $13.10 price target. UBS is feeling positive about the company's outlook and is expecting strong revenue growth and margin expansion to drive even stronger earnings per share growth. The broker also sees scope for value accretive acquisitions given its strong balance sheet and new debt facilities.”

Held IRL (9%), SM (16%)