ALS: Moderating with the outlook

About the author:

Author name:

By Tom Sartor

Job title:

Senior Analyst

Date posted:

10 August 2023, 7:00 AM

Sectors Covered:

Junior (Emerging) Resources, Bulk Materials

• We moderate our forecasts and valuations slightly per AGM outlook comments.
• However our views and trading tactics essentially remain unchanged.
• It’s fair for the market to question downside risk in Commodities earnings given volume decline and macro-economic uncertainty.
• Our blended valuation adjusts to (login to view).
• ALS (ASX:ALQ) offers value here and we maintain an Add. But we’d prefer to Buy the stock more assertively at better value through the usual market dislocations.

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