At MM we’ve evolved our view towards WOW from neutral-bearish, to neutral and now this morning we’re moving mildly bullish as the stock treads water ignoring most of the market’s recent gains i.e. it’s time for some catch-up. As supply chain and workforce conditions improve so should the outlook for Australian supermarkets with WOW arguably best placed to benefit. This is a definite candidate for MM when we decide to re-risk further this year.
- We like the current risk/reward towards WOW with our preferred scenario a test of $38-39 in 2023.
MM is mildly bullish WOW below $35
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