Brambles – Share Buyback Adds Support

Brambles is under Algo Engine sell conditions and we’ll review the FY19 earnings result with interest when announced on the 21st of August.

Earnings are likely to come in below the “moderate growth” expectations. We think the number will be flat to negative. Downside risks to the share price are underpinned by the share buyback which will recommence, post the earnings result.

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Based on FY20 earnings we have BXB trading on a forward yield of 2.5%.

 

 

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