Transpacific under review

Last week we reiterated our Buy recommendation on Transpacific Industries after the company announced that the cost of grounding its fleet following a fatal accident involving one of its trucks would be $20m (see Transpacific counts the cost from 9 Dec 14 (Buy – $0.902)). That came as no surprise to the market, yet the stock price has fallen 6% since then. Transpacifc benefits from lower fuel prices, but as it is heavily exposed to the resources sector the fall is not surprising given the remarkable fall in oil and other commodity prices. We’ve been trying unsuccessfully to quantify what...

Last week we reiterated our Buy recommendation on Transpacific Industries after the company announced that the cost of grounding its fleet following a fatal accident involving one of its trucks would be $20m (see Transpacific counts the cost from 9 Dec 14 (Buy – $0.902)). That came as no surprise to the market, yet the stock price has fallen 6% since then.

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