Of course it doesn’t . :/
Cheers Bundy
I wheyed it up and decided to dip a toe back in because you are right - money cares more about Bollinger bands than character and Bega does seem like it wants to stay over $4.50 right now .
But in The Bull, David Thang of Phillip Capital had it as a sell on March 11 http://www.thebull.com.au/premium/a/80601-18-share-tips---11-march-2019.html “Recently reported softer first half earnings and full year guidance. The shares have been in a downtrend, falling from $7.15 on September 12 to trade at $4.62 on March 7. With support expected at $4.48, a decisive break below this level would likely result in further falls, in our view. In the absence of any positive catalyst in 2019, we prefer others...”
Simon Herrmann, wise-owl.com was of the same mind
But earlier this month (March 5) FN Arena published a story with some broker recommendations including (https://www.fnarena.com/index.php/2018/03/05/marketing-costs-confront-bega-cheese/) “-UBS suggests the performance of Bega Cheese and Bega Foods is not as bad as it looks and upgrades to Buy from Neutral. The broker's target falls to $7.90 from $8.30. Brand positioning is now stronger and the broker suspects material legal costs which may have occurred have not been removed from normalised earnings.
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Morgans suggests an impairment to goodwill cannot be ruled out with the full year result. The broker has a Hold rating and $6.50 target.......
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Bell Potter includes higher up-front brand investment costs for the business and, while retaining a Buy rating, lowers the target to $7.85 from $8.24...
