Matrix Composites & Engineering (MCE) - Pause for Results
- Created on Tuesday, 14 February 2017 10:10
MCE’s share price has climbed nearly 50% since late December. The gain reflects a balance sheet which should see the Company through a very tough period, while providing management the breathing space to diversify into new products and markets. However, this takes time and we believe evidence of strategy execution is needed to drive further share price gains from here. We recommend pausing for release of the financials and an operational update with the interims later this month. We make no changes to our forecasts or valuation, but downgrade our recommendation from Spec Buy to Hold.
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