SUL reports on Thursday and will need to do a better job than last October when the stock plunged ~20% after the retailer’s trading update was a touch soft, showing growth had decelerated mildly relative to the update they provided in August; not ideal after the stock had surged ~50% in a few months. However, expectations aren’t as high this Thursday, and a solid result will likely be good enough. From a yield perspective, its fully franked dividend of ~5% over the coming years is attractive, especially if the futures market proves correct and we get three rate cuts before Christmas, both good for business and income.
- We can see SUL testing $18 in 2025: MM is long SUL in its Active Growth Portfolio and Active Income Portfolios.
MM is long and bullish SUL
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