Link (LNK): 10% undervalued

Chief Investment Officer and founder of Aitken Investment Management
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Link Administration Holdings (LNK) is a stock I’ve supported since its IPO and after reviewing the 1st half FY17 result, I am of the view LNK is undervalued by around 10% on what we know today.

My view remains LNK is a very high quality larger mid-cap business ($2.7b market cap) that operates in a structurally growing sector with high barriers to entry.

The stock has been somewhat in the doldrums for six months but my fund has used that as an opportunity to increase our investment in LNK, feeling the structural earnings and dividend growth the company offers is now under-priced by the market.

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