I think that G8 are heading in the right direction with the renewed focus on improving the quality of their centers. This should flow through to occupancy and see the SP recover in time. However, there is an inevitable delay from the time they begin implementing these changes to seeing it become beneficial to the bottom line. I think the market is wary of GEM due to the lack of performance in recent years. We are at 5 year lows in share price, which offers upside for long-term investors who believe in the company and the management team. I think the lack of confidence will keep us around $2 until the company shows more progress of turning the boat around. For me this offers value and upside at about $1.5 range presently, however I would upgrade this level if/when the company is able to better demonstrate turning the corner and growth in the earnings/profit.
GEM Price at posting:
$1.88 Sentiment: Hold Disclosure: Not Held
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