Global plumbing business RWC has recovered solidly from its COVID low although the $5 area has remained a brick wall since late 2018. The stock struggled back in February after delivering a solid half-year result but a warning from management that strength might not persist tempered optimism, importantly this is obviously a call on the economic recovery primarily across the US and UK. MM believes that things will improve post COVID albeit in a patchy manner hence we find RWC attractive into pullbacks.
MM likes RWC back under $4
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