In this briefing:
1. CSE Global: Gaining Momentum
- Investors who have bought CSE Global on dips since my last note would have profited ~18%.
- The upbeat guidance by management and supply-demand environment should give some legs to the recent rebound.
- While risks of slower global growth may weigh on the stock, the stock is trading below its five-year average PE despite significantly improved cash flow from operations and a healthy order intake (three-year high).
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