Dairy business BGA has fallen -38% year-to-date not helped by a downgrade by CLSA back in mid-October, another example of a trend following through so far this year. The stock is not overly cheap trading on a 26.3x for 2023 but its estimated 3.4% yield over the next 12 months should limit further downside.
- We think BGA can squeeze up over 15% into Christmas but it’s unlikely to find itself in an MM portfolio.
MM likes BGA for a squeeze up above $4
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