“I like Treasury Wine Estates (TWE). Trading nearer multi-year share price and P/E lows, the estimated long term growth for TWE (Bloomberg consensus) is around 16%,” Michael says.
“Sales growth around 10%, a premium offering and Asian expansion are good reasons for investors to consider TWE,” he adds.
However, Michael doesn’t like Nearmap (NEA)
“It’s an exciting business prospect and a great Australian story,” he says
“However, with no earnings to speak of until 2021 and an expansionary spend on the horizon, I think NEA could come back to earth. Repeated failures at $3.90 may indicate a pullback to $2.70 to $3,” he adds.
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