Freight company AZJ saw its shares advance +3.19% after it reported a 26% increase in earnings for 1H24 and reiterated FY EBITDA guidance of between $1.59 and $1.68bn. AZJ will pay a 9.7c part-franked dividend later this month, with capital initiatives a possibility as coal haulage volumes pick up and the company’s balance sheet strengthens.
- We can see AZJ testing its $4.24 2022 high over the coming months while also offering a defensive nature if we do see markets struggle to add to recent strong gains.
MM is bullish towards AZJ this FY
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