APE fell 3.2% yesterday, actually placing it in the top half of the main retailers on Thursday. When we buy sector sell-offs, we prefer to buy the strength, and with APE making 52-week lows this month while trading down 17% year-to-date, it definitely doesn’t fit this description.
- We like APE around $12, but it’s not in our top three ASX retailers at this stage.
MM is cautiously bullish towards APE
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