On the wires: Recessionary bites – where is that M&A?
There are obvious “lessons from growth outperformers in logistics”…
“Kerry Logistics Network (KLN) has risen over 90% to a historical high since end-March due to: 1) an improved trade outlook; 2) strong H120 results; and 3) a proposed spin-off of Kerry Express Thailand (KETH). With the stock trading at 18x 12-month forward p/e, we believe that [most upside] is priced in.” – UBS, sourced from a note headed “Growth and monetization outlook fairly valued”, 23 November 2020.
What’s next, then?