EDV delivered a 1H trading update last week and while it wasn’t great the market showed the stocks becoming oversold as Australians drink less. Trying to buy stocks in a downgrade cycle is dangerous but we believe the worst case scenario at least for now is built into EDV’s share price making the risk/reward attractive – but note our stop is at last week’s low in case the downward trend resumes..
- We are initially targeting a test of $4.25 in the coming months, more than 10% higher.
Trade Idea: Buy Endeavour Group Ltd (EDV) at $3.85 with stops at $3.65, around 5% risk
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