Brambles Remains Undervalued Following Third-Quarter Trading Update
Brambles’ third quarter trading update was in line with our forecasts but exceeded market expectations, which drove the share price up 6% following the announcement. The market expected a relatively weak third-quarter result following subdued Nielsen food and beverage sales data for calendar 2017. Brambles shares remain undervalued at the current share price of AUD 10.15. We forecast an improved performance in fiscal 2018, with EPS growth expected to rebound by 15%, supported by recent U.S. mana...Brambles is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Co. has three segments: Pallets segment, which primarily serves the consumer goods, fresh produce and beverage industries, and sub-divided into three regions: Americas, Europe, Middle East and Africa, and Asia-Pacific; Reusable Plastic or Produce Crates segment, which serves the fresh produce and food industry and comprising the IFCO RPC pooling business worldwide and the CHEP RPC pooling businesses in Australia, New Zealand and South Africa; and Containers segment, which comprises four business units: Automotive, Intermediate Bulk Containers, Oil and Gas, and Aerospace.
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