JBH will undoubtedly feel the pinch of a weak consumer, but we believe they are far more insulated than HVN, with plenty of smaller-ticket items between the TVs and computers, while a large cohort of their customer base is not grappling with mortgages. For our JBH price target to be achieved, the RBA will need to be very tempered with any rate hikes over the coming months. This is a great example of staying with the strength while macroeconomic uncertainty swells.
- We are still targeting a test of $70 by JBH over the next 12 months – MM is long JBH in our Active Growth Portfolio.
MM is long and bullish JBH
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