Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Happy New Year MM Team - Quick one, PGH seems to have some supporters in the independent research space was just wondering what the house view was? Its a long way from its $4.50 last year and am wondering to cut or continue to hold. Cheers Luke
This is a stock we’ve held in the past so know it fairly well. Rising cost pressures are the key at the moment and from a packaging sector perspective, we think Amcor (AMC) has a better growth outlook and balance sheet, plus they have an active capital management program in place. I think FY22 will be tough year for PGH and we’re neutral / bearish the stock around $2.50. Plus we don’t believe 2022 will be an especially kind year for “lower” quality businesses.
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