SUL is the holding company for the likes of Rebel Sports, BCF and Supercheap Auto, a very different product mix to JBH but its traded in a very similar manner since the breakout of the pandemic as they go in search of our discretionary dollars. This is yet another retailer forecast to yield around 7% fully franked which makes its appealing if / when we see a correction towards $10 which wouldn’t surprise us.
MM is neutral SUL
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