MM view of NEC & HVN
Would appreciate some feedback on NEC and HVN. Regards John
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Answer
Hi John,
Nine Entertainment (NEC) $2.58 – the company has recently been fined by the ACCC for excessive surcharges which sounds shocking as a headline but ~$160k wont materially impact their balance sheet. The stocks had a great run since the onset of the pandemic and the recent news feels like it was just an excuse for some investors to take a healthy profit, another 6-8% lower and the stock will look interesting.
Harvey Norman (HVN) $5.35 – we covered the retailers earlier in the week and the picture from HVN is consistent i.e. they look ok at lower levels but we’re not buyers here, in the case of HVN we like the risk / reward in the $4.75 area.
