defensive type stock pe of 2 (forward)

Ballieu Holst update

" Positive outlook and appealing value"

"The current market rating for HDX seems disconnected to the reality of a stock not exposed to discretionary expenditures"

Ballieu Holst emphasise that HDX is a low cost operator that will ACTUALLY benefit from the cost restructurings taking place at the moment e.g. replacing highly unionized high cost labour with an efficient low cost operator such as HDX

"EPS forecast growth into FY!$ of 10% on the back of taking mkt share from higher cost operators"