BSL is catching some people’s attention after its 40% correction has the stock trading on a P/E valuation for 2023 of only 6.4x while at the same time the companies rolling out a Colourbond equivalent in the US plus there’s a huge amount of bad news already factored into the housing market – it’s undoubtedly “bottom picking” but we do like the risk/reward into further weakness.
- We can see BSL slipping lower but the selling is starting to feel tired under $16.