REA has been sold off almost 20% amid the scramble to abandon the growth sector but property markets remain strong and REA has performed strongly through the difficult pandemic period e.g. in the 2nd half of 2021 revenue only declined 2% whereas operating expenses were slashed 13%. With listings growing strongly we feel REA is being unduly treated by the market and it should be regarded more of a GARP than GAAP stock.
MM likes REA under $130 for an initial ~15% bounce.
Add To Hit List
