This globally integrated real estate group is a turnaround play, which is taking its time remaining unchanged from where we bought it mid-last year. LLC has reduced balance sheet pressure over recent months, and although the sales were thought by many to be the “low-hanging fruit”, we believe that refocusing on being an investment-led operation in core countries with select projects while building a bigger funds management operation will enable the business to achieve its goals in the medium term. We believe this a stock that can rally 10-20% if its result is “not too bad”.
- We like LLC below $7.50 and are looking for it to “pop” above $8 in the coming weeks/months – the stock reports on the 19th of this month.
MM is long and bullish toward LLC
Add To Hit List
