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Big Tech is expensive? Try Big Consumer
The higher the multiples, the lower the tolerance investors have with slower growth
Add BT as a preferred sourcePublished Sun, Nov 5, 2017 · 09:50 PM
IF you think tech stocks like Facebook and Google are pricey, you haven't seen consumer stocks in Indonesia and India.
They are getting so high that some analysts have given up telling clients that it's time to get out.
In an end-August note, JP Morgan said it was "throwing in the towel on our longstanding underweight" on Unilever Indonesia since 2014. It upgraded the stock to "neutral", pegged to a target price 40 times forward earnings.
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