XRO reported extremely well in May, the market re-rated the stock up around +25% following the result, as the accounting platform illustrated good progress in balancing growth and profitability. At MM, we continue to like XRO, especially when compared to many of its sector peers, but we are likely to trim/sell our position if we see a break out to fresh 2023 highs.
- We continue to hold XRO in our Flagship Growth Portfolio, although it’s now our only direct tech position.
MM likes XRO in the $110 region
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