ALS: For how long can Geochem outperform?
About the author:
- Author name:
- By Tom Sartor
- Job title:
- Senior Analyst
- Date posted:
- 30 May 2023, 7:00 AM
- Sectors Covered:
- Junior (Emerging) Resources, Bulk Materials
- Strong FY23 underlying NPAT was at the upper end of recent guidance.
- Commodities was again the star, offsetting pockets of Life Sciences softness.
- We think it’s now fair for the market to question downside risk to Commodities earnings given the rolling-over of volumes and the threat of macro uncertainty.
- Our blended valuation adjusts to (login to view). We maintain Add but turn a more cautious eye to short term macro-risks and sentiment.
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