Neither of these things are an issue for me; where do you see the comsec growth statistic? I think SNL will land than 2% growth this fin year however I do expect long-term for them to grow roughly in line with the economy.
Potential price resistance isn't an issue for me as I'm a value investor - I'm happy to hold this long term and continue reaping the dividends. When I think about risk, I look at the fundamentals of the business and the chance of the company to either suffer from inability to service their debt, or face a major decline in earnings.
Debt/Equity is a serviceable 25% so I'm pretty comfortable with this, SNL's earnings were steady through the GFC and rather than investing huge amounts of capital to expand into new lines of business, management are streamlining processes and focusing on growing organically - this is a lower-risk strategy and a much safer way to steadily grow NPAT. They stick to their niche and they do it well.
SNL Price at posting:
47.0¢ Sentiment: LT Buy Disclosure: Held
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