Occasionally, a chart pattern looks so good that we stand up and take note, even if we think the company is overvalued for the type of earnings profile it has. In the case of TNE, we do like the business, just question the more subjective measure of valuation. The stock caught our attention yesterday, closing up +4%, making it the second best-performing stock on the ASX200. The roadmap for TNE looks very similar to our outlook for Xero (XRO) and the Tech Sector in general, i.e. the next 10% move is on the upside, lending weight to our bullish call into Christmas.
- We are targeting the $18 area for TNE, around 12-14% higher.
MM is bullish on TNE targeting the $18 area
Add To Hit List
