We discussed TWE at length when it first approached $8, a few months later, and the stock looks capable of testing $7. The stock is trading on 12.2x FY26, over 40% below its usual valuation, but the company is stuck in a downgrade cycle and has lost investor confidence. The geopolitical and economic backdrop remains a concern, but the stock is already baking in plenty of bad news around $7.50. We are not considering TWE yet, but it’s worth monitoring for catalysts to address its “cheap” price tag.
- We can see TWE bouncing between $7 and $8 without a fresh catalyst.
MM is neutral towards TWE
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