What is MM’s updated view towards Cleanaway Waste (CWY)?
Can I get your updated views on this company please.
The Latest Q&A
Answer
Hi Paul,
Good timing as we haven’t looked at CWY for ~6 months, this was a “hot stock” post-COVID but it’s struggled over the last 10 months. and is unchanged over the last 2 years while the ASX200 has rallied strongly.
Last year CWY purchased household waste composting business GRL for $168.5mn while pulling out of a tilt at BMI Group, at this stage the market appears to be waiting to see what’s on the M&A agenda for CWY and importantly its incremental addition to the businesses valuation.
We like the space in which CWY operates as we move towards a greener world but at this stage, there’s no clear catalyst to be long.
