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A big-name company all but forgotten among investors is now “one of the most compelling opportunities on the ASX today”.
That’s according to Firetrail Investments portfolio manager Blake Henricks, who reckons that
“Lendlease is a global leader in property development and investment management,” he wrote in a memo to clients.
“Their expertise and reputation in property development has seen the development pipeline grow to over $110 billion today.”
LendLease is a name familiar to Australians on construction sites, but it also has two other arms property development and investment management.
Why are LendLease shares cheap right now?
This ASX share doubled market returns but is still cheap: expert
This ASX share doubled market returns but is still cheap: expert
Finding an excellent business in an average sector is a shortcut to find a cheapie, reckons one fund manager.
Senior journalist at The Motley Fool
Tony Yoo is a senior journalist at The Motley Fool Australia. He formerly wrote for Yahoo Finance, Business Insider and Guardian Australia. Please send story tips to tony.yoo(at)foolcontractors.com. Tony s stock holdings are here.
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With the
S&P/ASX 200 Index (ASX: XJO) climbing to all-time highs in recent weeks, it’s harder than ever to find underpriced shares to buy.