Property listing business REA has enjoyed a solid 2021 following the strategic acquisition of Mortgage Choice (MOC) plus having taken a 34% stake in mortgage software business Simpology. We like the direction the company’s evolving in the search of ongoing growth with our only concern the current rich valuation of the company, we can easily see ongoing strength in the stock, especially in a firm market but its not exciting from a risk / reward perspective.
MM is neutral to bullish REA at current levels
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