Personal protective equipment (PPE) provider ANN has rallied strongly from its May low driven by a combination of improving sentiment, confidence in the company’s resilient earnings outlook and ongoing share buybacks, which have helped support the stock after a tough 12 months. With Earnings Per Share (EPS) set to lift by ~20% from FY25 to FY27 the recent downside re-rating feels unjustified, although the stock is now only trading ~10% below its long-term valuation.
- We wouldn’t chase ANN at current levels from a risk/reward perspective, but it looks good into dips.
MM is bullish towards ANN around $30
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