guys,
Pandemic factor is reflected in the price otherwise the price is $12.50 already.
Just prepare for rally. Please look at Simon Property Group price which placed shares at US$31.50 but rally over $50. Now every fund manager know that it is the time to shift their investment from placement to Westfield since it placed shares at $10.50. After that its highest price was $11.44.
Do you agree the fund managers are stupid according to the RBS report the projected profit is $0.97 so the reasonable price / target is $9.70. WDC placed shares in Feb. Do you think the fund managers are stupid to buy at $10.50 for $2.9 billion dollars.
My target is $12.40 - $16.20 if you see the performance of Simon Property Group.
Further the leverage of Westfield is lower than Simon. Westfield has potential to increase its own value from Stratford City which cost A$2.9 billion but it will be at $5.2 billion after 2012 so Westfield will get increase in property valuation thereafter.
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