The read-through for MQG from its US peers is very bullish, helped by almost 40% of its revenue coming from the Americas and the US being the most significant contributor from the region. Trading on 20x Est 2025 earnings, it’s not cheap, however, there is scope for earnings to grow more quickly in 2025 than consensus expects, and we are tipping another level up in terms of growth in 2026 and they execute on a higher volume of asset sales.
Ultimately, MQG is a bull market stock, very much leveraged to confidence, activity, and liquidity, all of which should improve under the new Trump administration.
- We can see MQG pushing above $250-260 area in early 2025, helped by its US operations.
MM is long and bullish MQG
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