AMP needs no introduction; it’s been a horror story for Australian investors for years, bar the occasional sharp bounce, e.g. 65% in 2022. Last year, the company tried to hide lower margins with the announcement of a new Digital Bank as the company shot itself in the foot one more time. There appears little to be excited about on the fundamental level, although value does appear on offer below 90c, making the risk/reward interesting at current levels. AMP reports on Valentine’s Day, Wednesday 14th of February.
- We like the risk/reward towards AMP ~95c, but management has offered little encouragement in recent history.
MM is cautiously bullish on AMP
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