Tony Paterno, Ord Minnett says CTX is a strong buy, see below:
Caltex is undergoing significant change and is now starting to land some strategic initiatives. The asset optimisation review has concluded, with a plan to sell some retail sites. The transition from the franchise to corporate operating model is a challenge, but the cost has been well flagged and is an enabler of the new convenience strategy.
CTX Price at posting:
$27.66 Sentiment: Buy Disclosure: Held