Stock price when the opinion was issued
In the current market it is hard to determine how much of the recent drop was China related, or market related. It is not good news, and the stock is down 24% YTD. It is also, of course, sensitive to the economy, which has gone from hot to cool to maybe cold. Good earnings growth is expected based on estimates, and even if this comes down a bit there should still be some earnings growth. We think it is cheap enough to hold through the current cycle. It may stay volatile in the short term, along with pretty much everything else.
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