We looked at Australian telco giant Telstra (TLS) yesterday after the announcement that Vicki Brady would be the next CEO, TPG delivered an uninspiring result in February which saw revenue fall 3% and EBITDA down 3.2% but investors appear to be looking forward and the stocks currently enjoying a clear “bid tone”. Similar to TLS we like TPG as a defensive play in a year where MM expects to migrate in that direction with the risk / reward currently appealing with stops below $5.70.
MM likes TPG around $6
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