HMC Capital is an interesting business, an alternative asset manager that invests in real asset strategies on behalf of individuals, large institutions, and super funds. In 2022, it was on the acquisition trail for its new $1bn REIT, HMC, accumulating a health hub and child care centres. Yesterday it surged +8.7% on the wave of bond yield euphoria; however, like much of the sector, it’s been a tough two years, but we are now looking for, at the minimum, a relief rally after the stock’s ~60% decline.
- We like HMC into Christmas, initially targeting ~$6, or 18% higher.
MM is bullish toward HMC into 2024
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