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What’s MM thought here on Reece ( REH)?

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What’s MM thought here on Reece ( REH)?

Hi guys, appreciate the work going on. Do you have any updates for Reece - REH? Regards, Simon

Answer

Hi Simon,

We’ve been watching REH closely through 2022 as the stock continues to slide lower, around the $18 area we see value returning to the plumbing business although it still cannot be regarded as cheap with a P/E in excess of 31x for 2022 hence we would consider accumulation as opposed to outright buying.

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Reece (REH)
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