Hedgeye CEO Keith McCullough is adding Duty Free (DUFRY) to the long side of Investing Ideas. Below is a brief note.
Now that SMALL CAP has corrected, as a Factor Exposure, towards the low-end of my Risk Range, The Signal says buy-more Best Ideas by Brian McGough... including Duty Free (DUFRY) which he calls a multi-bagger...
Here's an excerpt on the idea from his popular Retail Pro independent research product:
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Takeaway: Mother of all reopening plays. Multi-year multi-bagger. More upside here than we originally thought. Black Book Deep Dive on 3/30. We've amped up our research efforts around Dufry (DUFN-CH, ADR=DFRYF) since first going long last month on 2/6 (at CHf 52) , and are convinced that this name is the Mother of all Reopening plays…and then some. Today we're adding the name to our Best Idea Long list, and despite the 23% gain since we first made the call, we think this name is a 3-bagger over 3-years, with many ways to win. We think that (Advent and Alibaba-backed) Dufry will prove itself to be the consolidator of the global luxury travel retail industry, and will put up earnings nearly 2x pre-pandemic levels over a TAIL duration. That's definitely not in the stock today. |
Buy the damn dips,
KM