MM holds VOC in our Growth Portfolio, a position that’s looked after us since our purchase last August. We remain bullish looking for another ~10% upside but if we are long TLS at the time we are likely to consider taking our money if this move does unfold. The 2020 Financial Year was the 1st in the companies 3-year plan to turnaround the telco and the business delivered reoccurring revenues of $1.75bn with earnings expected to grow this year, the stock trades on a fair valuation considering its outlook and value of its underlying assets but above recent highs it won’t look compellingly cheap.
MM likes VOC for a test of $4.50
– We currently hold in the MM Growth Portfolio
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