Lend Lease (LLC) | Government backed recovery - maintain Quant Buy ($17) | We maintain LLC as a Quant BUY while upgrading the Quant Target Price (QTP) to...

Mathan Somasundaram

Deep Data Analytics

Lend Lease (LLC) | Government backed recovery - maintain Quant Buy ($17) | We maintain LLC as a Quant BUY while upgrading the Quant Target Price (QTP) to $17.00. Forward PE band valuations (FIG.1) shows that LLC is trading just above fair value (i.e. 12.55 PE or $14.07). We continue to see US/China driven global recovery, stimulus from Europe and domestic government driven local recovery to help re-rate LLC higher. G20 growth upside further supports the global construction model of LLC. LLC is expected to deliver a yield of 4.3%, 12 PE, EPS growth of 14.2% with improving ROE in 2016. The QTP was set at 1 standard deviation premium to fair value due to the growth and yield outlook. LLC is a diversified global company that delivers above bond yield and exposure to global/local construction recovery. (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

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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