I have been following TWE closely for around 12 months, and whilst I may have missed a fantastic opportunity to make great returns in that time (and continually kicked myself all the way up from $14) I think the departure of Michael Clarke and subsequent dip in price has made for a really attractive entry point.
It seems the banks agree with me - a list of the most recent target prices from various banks are below:
UBS - $20.50 (29 Oct 2019)
JP Morgan - $20.00 (21 Oct 2019)
Credit Suisse - $19.30 (21 Oct 2019)
Macquarie - $18.98 (21 Oct 2019)
Macquarie's (being the lowest) still represents a 6% gain over today's closing price ($17.80).
What got me was the attached table - while the competitors are trading on high multiples (as we were prior to Michael's resignation), we are now trading significantly under (from UBS report 29 Oct).
I say we are attractive sub-$18 - I mean we are attractive at any price - but here this is exceptional value.
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