Devine (DVN) | Devine opportunity | We rate DVN as a Quant BUY with $1.15 Quant Target Price (QTP)

Devine (DVN) | Devine opportunity | We rate DVN as a Quant BUY with $1.15 Quant Target Price (QTP). DVN is a residential property developer on the recovery with industry macro driving consolidation. DVN started to turn the positive corner earlier this month from a prolonged downgrade cycle. Since their upgraded guidance recently, DVN has announced new contract win as well as LEI announcing that they are looking to offload their 50% shareholding. We expect any potential M&A valuation will be around the $1.50 level due to the strength in the property market and potential suitors. (VIEW LINK)