We discussed MGH in then weekend Q&A report here, seeing no clear investment thesis at the time – yesterday saw the stock fall another 15% following a Jefferies downgrade, feels a bit late but it wont if MGH falls to $3! The sharp share-price decline highlights how sentiment can plummet when a major project partner’s funding plans falter, reinforcing the risks associated with infrastructure projects where future returns depend on securing capital and progressing from planned capacity to construction – the increasing issue around the AI Trade.
- Its hard to be too bearish towards MGH below $4 but its easy to leave it in the too hard basket.
MM is neutral towards MGH below $4
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