Ccp has historically done well in a lower rate environment, and crucially investors were at times willing to pay a much higher multiple for CCP (~15x).
The company has fairly low leverage overall and especially so for that industry, it can ride out uncertainty and potentailly capitalise. The company has not increased purchasing guidance for PDLs, so I assume that it is not attractive enough/ still getting house in order over in the US.
CCP Price at posting:
$13.80 Sentiment: None Disclosure: Held
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