@8ullmarket I agree with your comments. AMC is not exceptionally cheap. Rather it is one of the few companies listed on the ASX with offshore earnings that is not very expensive. It is not time to back the truck up, rather accumulate slowly (I currently have a 2.6% portfolio allocation to AMC).
It does seem as if the market has, to some extent, factored in a downgrade with the SP receding from $15.50 to $14.00. Obviously a downgrade will be met with further selling. If the price fell another 10 or 20% it would present an excellent opportunity for long term holders. There is every reason to believe AMC can continue to grow and generate consistent returns over the next 10 years. This is the kind of company that could take up a 8-10% portfolio position if it was cheap enough, due to its reliable income streams, quality capital management and defensive earnings.
AMC Price at posting:
$14.01 Sentiment: Buy Disclosure: Held
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