Shopping centre operator VCX is cheap in our opinion and it’s forecasted yield well above 6% is again clearly attractive but after raising capital at $1.48 there remains a lid on the stock through 2021. The more the economy reopens increasing foot traffic through shopping centres the stronger VCX’s position will become with tenants, it may take a while but we do believe VCX ultimately goes higher.
MM likes VCX around $1.50
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