PDL has been on a slippery slope for years but the last 6-months has seen the stock more than halve when the ASX200 only corrected 11.5% at its absolute worst. The Sydney based investment firm is trading on a PE under 9x but it still feels like the downside momentum will ultimately win out and any bounces while probably sharp will be relatively short-lived. It feels like the appealing estimated yield above 9% could prove a classic “yield trap” as it has with MFG – a sample of questions MM has received over recent months proves testament to this fact perfectly.
MM is neutral PDL
Add To Hit List
