Undervalued
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Beverage industry has been on fire lately. From a fundamental perspective, ROX remains undervalued. Current fair value is closer to $2.50, but the recent push into Wal-Mart and Sams will push sales higher and earnings beyond the current breakeven point.
The standalone fundamentals make this a strong buy and hold, and a very likely takeover target (Diageo or Constellation Brands as likely acquirers).
From a technical perspective, the recent channel support is nearly, and the daily chart looks ready to resume its uptrend after the recent retest of support. The weekly and monthly charts remains somewhat overheated, so this may take a few weeks to really get going.
The standalone fundamentals make this a strong buy and hold, and a very likely takeover target (Diageo or Constellation Brands as likely acquirers).
From a technical perspective, the recent channel support is nearly, and the daily chart looks ready to resume its uptrend after the recent retest of support. The weekly and monthly charts remains somewhat overheated, so this may take a few weeks to really get going.
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Nice move on the daily to give some channel breathing room. I expect ROX to slowly bleed 4-5% over the next week or two, at which point the momentum indicators will have reset. Fundamental events, such as earnings, will draw in new traders as July winds down. We could very well see another run-up into ER given the expectation that Wal-Mart sales will drive a top & bottom line Beat.
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