Lendlease Group: Deep Value Opportunity From Down Under

Intrinsic Analysis 652 Followers Follow Summary Lendlease Group presents a deep value opportunity after significant shareholder value destruction and failed international expansion. LLC's strategic reset focuses on exiting offshore development/construction, but capital release from the CRU has lagged, pressuring the balance sheet. At A$2.48/share, LLC trades at just 0.72x adjusted NTA and ~4.6x forward EV/EBIT, offering substantial upside potential if execution improves. I assign LLC a Strong Buy rating, recognizing high risk but seeing the most compelling value upside in years, especially for contrarian investors. Elias Bitar/iStock Editorial via Getty Images Introduction Behind the price chart for Lendlease Group ( LLESY ) below, there sits a long and sorry tale about the spectacular destruction of shareholder value by a business that was once considered an Australian This article was written by Intrinsic Analysis 652 Followers Follow Deep experience in investment markets, including over a decade as an equity research analyst with a leading fund manager, and provision of investment consulting services to institutional clients. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. This writing is for informational purposes only. All opinions expressed herein are not investment recommendations, and are not meant to be relied upon in investment decisions. The author is not acting in an investment advisor capacity and is not a registered investment advisor. The author recommends investors consult a qualified investment advisor before making any trade. This article is not an investment research report, but an opinion written at a point in time. The author's opinions expressed herein address only a small cross-section of data related to an investment in securities mentioned. Any analysis presented is based on incomplete information, and is limited in scope and accuracy. The information and data in this article are obtained from sources believed to be reliable, but their accuracy and completeness are not guaranteed. Any and all opinions, estimates, and conclusions are based on the author's best judgment at the time of publication, and are subject to change without notice. Past performance is no guarantee of future returns. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.