Before we bore down into some major stocks in the sector we’ve taken a quick look at the overall Food, Beverage & Tobacco index, although this contains a very diverse group of companies that rarely move as one e.g. year to date Bega Cheese (BGA) is down -42% while a2 Milk (A2M) is up +10%. We believe the risk/reward for the index is finally pretty good after a tough 2022 but clearly, it’s on the stock level where we need to identify some opportunities.
- We like the index after its 40% correction with an initial test of 8000 level feeling likely i.e. +5% higher.
MM is mildly bullish on the Food et al Index
