QUB delivered a strong trading update last week that’s propelled the stock back within a few cents of its all-time high. The company said tariffs are not expected to materially impact earnings, even if they are fully implemented. They also noted that they’ve not experienced any significant disruptions due to trade problems, citing their focus on import-dependent goods and long-term client operations that are less sensitive to market volatility. The company reaffirmed guidance for the FY and announced that underlying profit would increase by at least 5%.
- We like QUB, but it looks fully valued around $4.50.
MM is cautiously bullish about QUB into 2025
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