Buy - PeopleIn (PPE)
*** GENERAL AVICE ONLY***
Trade Date: 13/02/2024
Description: PeopleIN Limited were the provision of staffing, business services and operational services. Services provided by the Group include workforce management, recruiting, onboarding, contracting, rostering, timesheet management, payroll, and workplace health and safety management.
Recommendation
Entry price: $1.35
Target Price: $1.85 (+37%)
Stop Loss: $1.10 (-18.5%) Use a 15% trailing stop
Rationale:
PPE has been in a strong downtrend since early 2023, falling as low as 96c in Dec 2023. Since making that low PPE has found support and managed to rally back to $1.34. Analysts downgraded the stock on growing earnings last year. With the market cap now half the value and targets still much higher than current prices, we have an opportunity to buy PPE where the downside risk is easy to manage. PPE is due to report earnings on 16th February 2024 and we suggest getting long before they report
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.