Identifying stocks that could/should rally in the near term requires a catalyst. For APA that catalyst has more to do with the stock being sold down 25% in the two months from August to early October.
- Their shorter-term focus has been on growth as they moved to acquire Basslink which owns a 370-kilometre high-voltage, direct-current electricity interconnector between Victoria and Tasmania.
- While this is yet to complete, the deal has been agreed providing APA with more certainty.
- We think this certainty will lead to a recovery in the share price.
MM is high conviction on APA
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