Undervalued ASX share on the right track.

The market responded favourably to results but shares still underpriced.

Shares rallied after results but we see future headwinds.

The global search for a new CEO is over, ending investor concern about leadership uncertainty.

Shares are still undervalued despite drop in profit margins.

Shares attractive due to near term profit margin increase and structural growth.

Uplift in sales momentum continues.

Solid balance sheets, lower business risk and strong sales but investors are overly optimistic.

Our view after first quarter sales updates.

Earnings continue to grow but investor expectations are too high.