EVT recovered strongly from an initial aggressive sell-off when the pandemic broke out but the operator of Event Cinemas, QT & Rydge’s Hotels, Sydney Ferries and Thredbo Resorts couldn’t have a worse business model for another round of COVID shutdowns. However, at MM we believe as the country becomes vaccinated there will be more appeal for their domestic offerings than before 2020 as overseas travel is shelved by many for at least a few years – hence we like EVT into pullbacks.
MM likes EVT around $11
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