CCP kicks off reporting season on the 2nd of August with the market clearly looking for good things from the debt collection company. With the “mortgage cliff” about to hit Australia through 2H we feel there’s a good chance of an increase of debt to be purchased while the strong employment data suggests defaults won’t blow out as many had expected in 2023.
- We feel CCP is a horse that’s already bolted from a risk/reward perspective, but it still looks on track to test $25 in the coming weeks.
MM is bullish toward CCP short-term
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