EVN has followed in the footsteps of many companies who’ve disappointed with this season’s earnings i.e. they’ve struggled to bounce. First-half numbers came in this month on the light side just after the share price had almost doubled i.e. a dangerous combination. However, the company stuck to its FY guidance which feels a touch optimistic but after falling over -20% we believe that value has returned to EVN.
- We like EVN into current weakness.
MM is long and bullish EVN
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