Hi Rob,
As always, MM provide advice that is general in nature and doesn’t take into account your specific circumstances.
From what we can see, Brambles has 9 buys, 4 holds and 3 sells of the 16 analysts that cover the stock, not overly supporting the “fully valued” stance you mentioned. The average target price is ~$15.45 and an expected yield of 3% means analysts expect ~10% TSR (total shareholder return) over the next 12 months. Brambles (BXB) is trading on ~18x forward earnings, not overly stretched for the pallet business that is expected to grow earnings by around 10%. At this stage, it looks on track to make new highs, however we would turn more cautious if that was to eventuate. As with all holdings, it is important to manage position sizing as stocks move higher.