Enterprise software business TNE was the main boards worst performer yesterday falling over 8.6% following a disappointing result, it wasn’t a big miss but the markets long tech and they need to perform to justify their lofty valuations e.g. revenue missed by under 1% and dividends weren’t hiked as much as some hoped although its hardly a yield play. However with profit up 19% to just shy of $98m we feel any ongoing knee jerk reaction to the downside will provide value.
MM will be tempted by TNE under $11
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