Should You Buy Lendlease Group Shares at this Price?

US stock market

What do Lendlease Group do?

Lendlease Group [ASX:LLC] is one of the world’s largest and most diverse property and infrastructure providers.

Operating internationally, they provide services in project management, design and construction for the commercial and residential development sectors.

And also provide consulting engineering expertise on major roads, water, telecommunications, power, industrial and resources projects around Australia.

Why is the share price moving up?

The share price is up over 6% in the last two weeks, on the back of news of big contract wins.

The most recent one is a contract to design and build an expansion to the Javits Convention Centre in New York, a project that could be worth up to $13 million in earnings for the developer, according to Macquarie analysts.

They also have early mover advantage in the potentially massive, billion dollar off the grid electricity market, after striking a joint venture with Carnegie Clean Energy [ASX:CCE]. The joint venture promises to develop off grid communities throughout Australia.

What now for Lendlease Group?

Let the chart of the company share price guide you. The share price has been trading a range for much of 2016. Should it break above or below that range, that will tell you the future direction for revenues.

Should the share price make a decisive break above $15, it may forecast better news to come for this company.

Terence Duffy,
Cycles, Trends and Forecasts

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