I guess they had a few mixed years with switching branding and where they were selling through and the market lost faith? The last couple of years have been much more promising and growth seems more predictable. I bought in a couple of weeks ago (the timing was luck not cunning foresight…) as figured it’s cheap, growth outlook is decent and figured if they deliver we’d get a bit of a rerate as well. At 1.22 the forward PE by simply doubling (this was prior to the FY guidance) the HY21 result as there’s not too much seasonality usually was very low, so combining the growth and conservatively adding a couple of PE points suggested decent gains. Not going to be a world beater but a bit of upside without too much downside risk?
VLS Price at posting:
$1.50 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)