Well - Morgans kept it as a hold, and reduced their target by 5c to 375. They are concerned about oversupply and subdued retail channel growth, which I can understand as a concern. I suspect they are missing the import substitution that will soon be happening with a lower AUD, and the option value of the extra lower cost inventory. If the AUD goes down further, at some stage this will make fish exports very promising, and import substitution even stronger. People will eat more local fish if it is lower cost as well, I would expect, and less cheap asian fish too, if cheap asian processed fish is less cheap. You'll get more Salmon sold at the fish and chip shop etc.
TGR Price at posting:
$3.98 Sentiment: Buy Disclosure: Held
