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.
TWE very attractive sub-$18
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Last
$12.44 |
Change
-0.040(0.32%) |
Mkt cap ! $10.09B | |||
| Open | High | Low | Value | Volume |
| $12.54 | $12.57 | $12.40 | $19.00M | 1.526M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 24686 | $12.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.48 | 227 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| TWE (ASX) Chart |