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Brambles Ltd (BXB) $16.08

Pallet business BXB has enjoyed the resilience demonstrated by global retailers over the last few years, and with interest rate cuts looking increasingly likely things look good for BXB. Our issue with BXB is around valuation, but as always, increasing earnings above current expectations generally solves that problem, while at this stage, the markets are comfortable with elevated valuations at this stage of the cycle; hence, we wouldn’t fight the current breakout to new all-time highs.

  • We like BXB as a business, but it looks fully valued above $16, but we thought that at $15!
MM is neutral BXB around $16
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Brambles Ltd (BXB)
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