CWY corrected -12% over 4-weeks from late June following its investor day, the aggressive selling may also have coincided with some EOFY book squaring, either way as we approach its report on the 24th the stocks again challenging its 2023 high. We believe future investment opportunities remain strong as management applies discipline to this pipeline of work e.g. Energy from Waste. Costs will be a focus after they flagged these pressures at their recent investor day.
- We continue to like CWY ahead of its report believing profitability is set to recover as growth opportunities improve for this sector leader.
MM is long and bullish toward CWY
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