ALS: Moderating with the outlook

About the author:

Tom Sartor
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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