Citi has upgraded Lend Lease (LLC) to Buy from Neutral - the broker notes that the share price has come off 25% since May as the market grows increasingly...

Livewire
Citi has upgraded Lend Lease (LLC) to Buy from Neutral - the broker notes that the share price has come off 25% since May as the market grows increasingly concerned about the company's ability to maintain construction earnings in FY14. However, Citi believes that the company's main drivers remain intact with stable construction earnings underpinned by a recovery in the US as well as Australian non-residential property. Citi has raised its FY14-15 EPS by 3-4% and increased its target price to $10.15 (currently $8.83), citing an attractive valuation at 9.4x FY14 consensus EPS.

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
Expertise
No areas of expertise