ALU surged in August after reporting earnings ahead of expectations for FY23 in both composition and numerical terms. We rate their management team highly, making this our favourite local tech stock with a scalable business model. The company doesn’t report until February, taking that risk off the table for the foreseeable future.
- We can now see an 8-10% upside move into Christmas, but fresh highs feel unlikely – MM holds ALU in our Active Growth Portfolio.
MM is long and bullish towards ALU
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