Retail drinks and hospitality business EDV was the worst performing stock on the ASX200 yesterday falling over 6% following the selling across the consumer defensives i.e. it’s up the most being one of the likely reasons it got sold off the hardest. However an investors day presentation pressed a few alarm bells although there were no surprises with the company reiterating guidance including the addition of 20-30 stores while allocating part of the $200-260mn estimated CAPEX to the acquisition of, “hotels, production assets and productivity”.
This Sydney based company is priced for growth which is always a concern although it feels reasonable value sub $7.
MM is neutral EDV
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