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#Broker Reports
Last edited 2 weeks ago

15 May 2020:  Phillip Capital: Beston Global Food Co Limited (BFC): Company update and Two Major Deals Proposed

PC have a "Hold" call on BFC and a 12-month PT of 5.8 cps.  They closed at 6.2 cps today, suggesting there is very limited upside from here, if PC are correct in their analysis. Interestingly, PC's 5.8c happens to be BFC's 12-month low, achieved on 13-Mar-2020.  Their 12-month high was 13.5c on 09-Jul-2019.  At the beginning of 2016, BFC were 56.5 cps.  Mostly downhill from there though...  So much promise.  So little in the way of results...

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#Broker Reports
Last edited 2 weeks ago

17-May-2019:  Beston Global Food Co Limited (BFC) - "A day with the new CEO - Site visit to Shepparton Meat Division", a broker report from Phillip Capital.

They think there's value there for a 3 to 5 year buy and hold.  They don't expect BFC to be profitable when they report their FY19 numbers, and they (Phillip Capital) expect only $0.6m profit in FY20 and $1.6m in FY21, so it's a slow burner investment case, not a way to make a quick buck.  


Disclosure:  I used to hold BFC, and I was very bullish on them at the time, but a series of disappointing results and downgrades from management (the old management, as they now have a new CEO) caused me to lose that positive view and I sold out at a loss last year.  I have been watching them since then, but my sense is it's still too early to call the bottom.  As they are widely expected to report another net loss for FY19 when they report in August, I certainly believe there could easilly be further downside from here.  There may be a time to jump back on this bus, but I don't think we're there yet.

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#ASX Announcements
Added 3 weeks ago

07-May-2020:  CEO Letter to Shareholders

Recently (Feb/March):  25-Mar-2020:  Update on Current Trading & COVID-19   and   16-Mar-2020:  Update on AGM Presentation   and   28-Feb-2020:  FY2020 Half Year Results Media Release

On their knees at sub-7-cents.  If they survive, they will likely multibag from here... IF they survive...  [not held].

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