Q: Well has been a dog forever Always promise but no delivery. Another Knight? Held for so many years, ready to capitulate! Is there a light at the end of this tunnel?
5i Research Answer:
We did take WELL out of our growth portfolio a while back. It is cheap at 11x earnings, and is, at least, up 3% YTD. We think management's long term strategy remains intact. EPS is up 4-fold from 2023 to 2026 estimates. It plans a spin out of a company which might create more interest. BUT...it has been a value trap. We think it is a HOLD still but hardly a must-own.