Skip to Content

Brambles Ltd (BXB) $15.25

Pallet business BXB has enjoyed the surprising strength across global retailers, and with rate cuts on the horizon; as discussed earlier, the macroeconomic backdrop is improving for BXB after it performed strongly when many thought it would struggle. While we anticipate further destocking to continue as a slight volume headwind through FY24, we believe for most retailers, it’s already happened. All eyes will be on tomorrow’s report after its 1Q24 update helped push the stock down towards $13.

  • We like BXB as a business, but it’s approaching fully valued above $15 – BXB reports on Friday, the 23rd.

A 10% appreciation in the $A will make it increasingly hard for BXB to meaningfully add to the last 2-years advance.

MM is neutral BXB above $15
Add To Hit List
image description
Brambles Ltd (BXB)
image description

Relevant suggested news and content from the site

Back to top