We’ve held MFG through most of 2024, and it’s been a rocky/volatile ride at times. However, as the stock looks set to make fresh highs for the year, it is finally on track to test our $12 target area. We went long MFG around six months ago, and it remains a contrarian call today, with no analysts calling the stock a buy, i.e., 6 Holds and 3 Sells. While the company enjoys a very strong balance sheet and has stemmed FUM withdrawals, it’s the way they are evolving for the future that creates the next catalyst for our position given ‘deep value’ is no longer on offer. Their recent purchase of a 29.5% stake in Vinva – a deal we wrote about here, signals a new beginning.
- We like MFG short-term, targeting a break to fresh 2024 highs. MM is holding MFG in our Active Growth and Active Income Portfolios.
MM is long and bullish MFG
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