Smaller (and slightly different) cousin to Woolworths (WOW) and Coles (COL) MTS delivered solid FY22 earnings in recent weeks that were significantly ahead of expectations plus sales growth of +8.6% to start 1H23 was encouraging for investors moving forward. We like the way MTS is moving operationally while its projected ~6% yield over the next 12 months is clearly attractive and one of the reasons MM holds MTS in our Active Income Portfolio plus we simply believe the stock is cheap given the growing momentum behind its hardware division, trading on Est 14x for 2023.
- MTS has pulled back recently after roaring higher following its strong earnings numbers although the stock did trade ex-dividend 11c fully franked a fortnight ago.
MM is bullish MTS around $4.15
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