Q: Can you please provide an update on MEQ and the reasons behind it’s current decline ?
You have been found of it in your previous answers.
How compelling is it at current levels, for a long term hold?
Thank you,
You have been found of it in your previous answers.
How compelling is it at current levels, for a long term hold?
Thank you,
5i Research Answer:
MEQ us up 12% this year and 21% in 52-weeks. It remains cheap at 15X earnings. It has a buyback in place. It did have a cyber security breach in May, but there has been no other news since. Weakness could be related to concern on real estate and/or profit-taking, but the stock continues to outperform the general market and we would still see it as a decent real estate investment overall.