Mike Arnold
Value, growth at reasonable price, long only, tech

Lend Lease Still Looks Attractive

Shares of Lend Lease (OTCPK:LLESY) have performed well since I first wrote about them in August 2013. Since that time, the shares have appreciated 30% relative to a 10% return for the S&P 500 (NYSEARCA:SPY). Because the company traded up to my initial fair value estimate, it is an opportune time to revisit the thesis.

(click to enlarge)

LLESY data by YCharts

The Business

Lend Lease is an international property and infrastructure company established in 1958 and headquartered in Australia. However, Lend Lease has global scale, and is active in various markets around the world. While most of Lend Lease's operating profits do come from Australia, the company is active in Asia, North America and Europe....

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details