Credit Suisse notes press reports there is foreign interest in the company’s engineering & services business. China’s State Construction and Engineering Company is allegedly a front runner.
Credit Suisse suspects management is highly motivated to achieve a trade sale rather than a winding down or de-merger.
Outperform and $16.20 target retained.
Sector: Real Estate.
Target price is $16.20.Current Price is $13.03. Difference: $3.17 – (brackets indicate current price is over target). If LLC meets the Credit Suisse target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
