Electrical consumer manufacturer BRG delivered a solid result back in August but the concerns towards consumer spending, with a recession likely to be looming in 2023/4, have weighed heavily on the stock with its valuation slipping to 23.1x FY23 earnings i.e. still not overly cheap and a one days +3.6% bounce isn’t garnering our attention.
- We are 50-50 on whether BRG can break its 2022 low hence the risk/reward is unappealing at current levels.
MM is neutral BRG around $18.65
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