REA is arguably our favourite position in the MM Flagship Growth Portfolio at this moment in time, with the stock rallying +3.6% this week even as the broad market fell badly plus it paid a 75c fully franked dividend this time last week. REA hasn’t changed as a business but the macro-economic backdrop being used to value the stock has big time i.e. REA almost halved in 2021 as rates surged higher, and now it’s threatening a strong recovery as the hawkish rate hiking cycle comes to its conclusion.
- We like REA looking for a sharp rally up towards the $140 area, or 10-15% higher.
MM is long & bullish REA Group
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