Appliance business BRG was the market’s 2nd best performer yesterday advancing +1.6% amongst a sea of red. The stock has been in a fairly tight range for more than a year and we can’t see that changing ahead of its earnings report on the 21st.
- We can see some upside in BRG but caution that it’s not cheap trading on a 30.6x for 2023.
MM is neutral on BRG around $23
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