One recent characteristic that’s caught my attention through the current reporting season is the “delayed response” to company’s profit reports / updates. On Monday Lend Lease (LLC) slipped a few cents lower after reporting core operating EBITDA of $405m however on Tuesday after digesting the result overnight LLC soared more than +8% to its highest close in over a month, obviously analysts decided to embrace the companies shift towards core urbanisation and investment platforms. After recently correcting 23% I can see LLC building on yesterday’s gains – fingers crossed that’s not tempting fate!
MM remains bullish and long LLC.
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