Software business TNE has lagged behind the local Tech Sector in 2024, posing the question of whether it’s time for some catch-up or whether we should stay with the strength. The company delivered an average result earlier in the year, and it continues to look pedestrian at around $16. While we regard TNE as a solid growth stock, we continue to believe it’s expensive at current levels for the type of technology business it operates.
- We like TNE closer to $14; the risk/reward isn’t appealing at current levels.
MM is neutral towards TNE, around $16
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