LLC – UBS rates the stock as Upgrade to Buy from Neutral

Lendlease has raised up to $1.15bn. UBS assesses the proceeds will be used to strengthen the balance sheet and also allow the company to take a larger share in development pipeline/profits and acquire opportunistically.

Given the improved funding position UBS upgrades to Buy from Neutral. The broker now assesses there is sufficient capital to withstand negative scenarios. Target is reduced to $15.50 from $18.00.

Sector: Real Estate.

Target price is $15.50.Current Price is $11.62. Difference: $3.88 – (brackets indicate current price is over target). If LLC meets the UBS target it will return approximately 25% (excluding dividends, fees and charges – negative figures indicate an expected loss).

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →