Yesterday CTD popped almost 5% following an update which we felt was ok considering the obvious challenging conditions and moving forward we believe things look good as they continue to win new customers plus they acquired US Business Travel & Transport last September for $US200m – we love the concept of buying at the probable bottom of the cycle, even if they had to raise capital to do so. We believe this is one company which will exit COVID larger and stronger and already FY21 is encouraging.
MM is bullish CTD initially looking for 20% upside
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