Michael likes Brambles (BXB). “BXB surprised investors last week with a better than forecasted Q1 sale report,” he says.
“Conventional wisdom has the logistics group under trade dispute pressure but last week’s 5% lift in Q1 revenue directly contradicts that story.
“There is an argument that BXB is under-priced at current levels,” he adds.
Michael doesn’t like Transurban (TCL). “The toll road operator is in my view priced for perfection,” he says.
“Seen as a bond proxy and a “defensive” investment, the unit price hit an all-time high in the lead up to the August results announcement.
“However, the disappointing result and share and institutional placement broke the upward momentum.
“Repeated failures at the $15 level point to a potential significant decline.
In my view there’s no reason to be here,” he adds.
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