We liked HVN result in October which saw the stock surge almost 20% over a few sessions. However, the less dovish economic backdrop that’s evolved in the last 24-hours is likely to weigh further on the retail sector, especially after some of them have run hard in anticipation of a jubilant consumer enjoying interest rate cuts. Patience looks likely to pay off here with a 6-8% pullback, a strong possibility over the coming weeks.
- We have the retailer in the Hitlist of our Active Growth Portfolio, and if negative sentiment around interest rates drives the stock below $7, we would get more interested.
MM likes HVN below $7
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