there are synergies to be had and efficiencies to be taken advantage of yet. Not to mention the offloading of unwanted business at a price, which will provide capital injection. All this in the pipes and we get to enjoy a nice divvy while the market takes its time to figure it out and provide the SP appreciation.
im actually not a huge fan of this company but I can see the current SP is a good deal given the new capital coming in from selling off the unwanted business, the cost saving synergies yet to be realised and the very reasonable dividend while I wait.
I don’t have a price target but I’m happy to sit it out until the announcements tell me they don’t have any particular efficiencies left to take advantage of. I’m guessing around 2 years from now, unless interest rates start to rise, then all bets are off.
IFL Price at posting:
$3.91 Sentiment: Buy Disclosure: Held
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