Fundamentally, BKL is overvalued at this price point.
The annual report has no surprise at all, however, pushing the price from 140s to 160s. This recent correction is simply a return to mean.
It's asian growth can not justify its 35 times PE ratio, and its a risky play given the uncertainty sourrending emerging market economy, china, and trade.
I'm a long term BKL buyer, but given the current valuation, there are many attractive alternatives in the market.
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