Q: Disappointed with this stock performance. What are bears saying and what catalyst could help pivot with positive momentum?
5i Research Answer:
The shares have been trending down since the distribution of its asset management business, and we feel that part of the bear thesis has been centered around its exposure to commercial real estate and the impacts of rising rates. We feel that the bear thesis is not completely warranted, but it may take some time for the shares to find an area of support before building up positive momentum. We feel that these prices provide great entry points to a strong business, that generates reliable, recurring cash flows.