SPX has been the standout sector performer over recent years but it feels fully priced near the $4.50 area. The company has significant infrastructure spend planned for 2022 including funds to accelerate the 5G rollout. We really like what the business has achieved over recent years but it’s a touch harder to see major growth moving forward e.g. the companies already on track to cover 90% of New Zealanders by 2023. However an estimated 5.6% yield over the next 12-months makes the stock very attractive for the income hungry moving forward, especially into any dips.
MM likes SPK into pullbacks
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