UK-based fund manager JHG rallied over 3% yesterday and although it’s still close to its multi-year low the risk/reward looks interesting under $38. However the stocks looked cheap for a long time and today with an Est P/E of sub 11x for 2022 it’s no different, the stocks also set to yield almost 6% over the next 12 months but it still feels like buying JHG is akin to catching the proverbial falling knife.
- We can see JHG squeezing up towards $45 but MM wants to see some operational improvements before we consider stepping up.
MM likes JHG as trade as opposed to an investment
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