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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