Mullen Group Ltd.

Company Overview:

Mullen Group ltd. (TSX: MTL) is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation. Mullen also provides a diverse set of specialized services related to the energy, mining, forestry, and construction industries in western Canada.

As per the previous ‘Earnings Hunter’ Report published on “MTL” as on 13^th March 2023, Kalkine provided an ‘Attractive’ stance on the stock at CAD 15.24 based on ‘Earnings Hunter Score’.

Noted below are the details of support and resistance levels provided in the previous report:

MTL’s Daily Chart

MTL, Daily Technical Price Chart, Source: REFINITIV; Analysis: Kalkine Group

Considering the resistance, risk-reward scenario, current trading levels and uncertain macro environment, the stock seems ‘unattractive’ at the current market price of CAD 15.33 (as of 05^th May 2023). 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.

Mullen Group Ltd. is a part of Kalkine’s Earnings Hunter Report

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level as on 13 March 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Disclaimer

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