Lendlease Group

LLC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$39.00	Smz	Jsczzxj

Lendlease Needs Capital and Expertise To Fuel Growth. It Is Assembling These. FVE Up to AUD 17.15

Adam Fleck

Feb 21, 2020

No-moat Lendlease’s half-year result incorporated loss provisions for its engineering and services business, but the actual half-year profit number was a sideshow. Two things are more important to our valuation: whether any further loss provisions are made, and the company’s ability to execute on its pipeline of future construction and development work around the world.

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