WES rallied another +1.1% on Monday, gaining a whopping +35% year-to-date. This is a perfect example of fund managers chasing a quality stock to regain market exposure in a “safe” manner. There will be a time to switch out of the top-performing “Blue Chips”, but when is the million-dollar question with plenty of analysts already struggling with valuations i.e. WES trades 27% above the average analysts valuation ($60.52) with CBA trading at a whopping 35% premium ($102.11), showing that valuations are not the only thing we need to be conscious of as investors.
- We like WES as a business but couldn’t chase it above $77 ahead of its result on Thursday, the 29th of August.
MM is neutral WES
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