Priority Stock [P-12] post strong numbers as expected. Strong upside seen.
Earlier this month, we had picked Priority Stock P12.
[Priority Pick: P12] Bet on results. upto 60% upside seen in 6 months.
The stock has posted bad numbers due to higher ‘Other Expenses’ in last quarter. Stock is trading at 55x last quarterly EPS which is almost same as the PE of its peers.
We suppose that the last quarterly results are the worst numbers it can quote and stock is technically bottoming out.
We bet on better results from this stock which has good ROE/ROCE which lower margin.