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)
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Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...
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