Q: With patience in big supply where would you buy and why ? Thank you.
5i Research Answer:
TCN is trading below book and we think it can recovery well when rate fears subside. But right now investors are getting more concerned about real estate, and REITs are at three year lows. We like the stock but buyers could have patience here. We think $8.50 would be quite attractive for starters and we would be more interested in adding more below that.