Business
Goldman Sachs thinks you should buy the dip for these 2 ASX shares
For these 2 ASX shares, a reasonable interim result failed to translate into share price gains. After running the ruler for its results, Goldman Sachs thinks the market has got it wrong and reiterates its buy rating and higher target prices.
2 ASX shares that dipped on earnings
Jumbo Interactive Ltd (ASX: JIN)
On Tuesday, Jumbo reported a 9% increase in revenue to $40.9 million while underlying NPAT growth was flat at $14 million. Net profit figures came in slightly above Goldman’s estimates of $13.7 million. Despite a fair result, the Jumbo share price slumped more than 7% on Tuesday and struggled to bounce higher on Wednesday.
The broker’s view is that Jumbo’s result was broadly in line with expectations, while its…
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