We discussed APA on Wednesday, in our opinion the stock now offers excellent value after being dumped ~25% in just 2-months. We believe the certainty around the Basslink deal will ultimately lead to a recovery in the share price and with the stock delivering a strong yield and earnings linked heavily to CPI, we feel some patience is warranted.
- We like APA around $10 for both yield and potential share price appreciation – it’s forecast to yield in excess of 5% over the next 12 months.
MM is bullish and long APA
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