Lendlease Group (ASX: LLC) - SELL at AUD 6.970

Lendlease Group (ASX: LLC) is an international property and investments group with operations in Australia, Asia, Europe, and the Americas. The company manages funds and assets for major real estate investors across the world. The ASX-listed company operates through the investments, development, and construction segments.

As per the previous report published on LLC on 27 June 2024, Kalkine gave a ‘Speculative Buy’ rating on the stock at AUD 5.410. The stock price has gained around 28.37% since then.

Previous Recommendation Summary as on 27 June 2024:

LLC’s Daily Price Chart

Source: TradingView

LLC incurred a statutory loss after tax of AUD 1,502mn in FY24, compared with a loss of AUD 232mn in FY23. Additionally, investment property valuations went down by 10% year-on-year in the year.

Given its current trading levels, deepened losses in FY24, and risks associated, it is prudent to exit this stock at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current market price of AUD 6.970, at 2:53 PM AEST, as of 9 September 2024.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 9 September 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.