Latest news for Melcor Developments (OTC:MODVF) Stock

MELCOR DEVELOPMENT L

Melcor Developments Ltd is a real estate development company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions includes Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.

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MODVF

TSX:MRD

RBC Capital Trims Melcor Developments Price Target By 5%

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MELCOR DEV LTD by Melcor Development Ltd.

Melcor Developments Ltd

Melcor Developments

<ul>
	<li>Melcor Developments Ltd.&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/MRD#TSX">MRD</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MODVF#OTC">MODVF</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/MODVF" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">price target has been lowered</a>&nbsp;to C$18 from C$19 by&nbsp;RBC Capital&nbsp;analyst Tom Callaghan.</li>
	<li>The analyst maintained the Sector Perform rating on the shares.</li>
	<li>Callaghan states that there is no change in constructive stance on Melcor Developments following Q1 results.</li>
	<li>The analyst continues to see several tailwinds in both Alberta and the U.S. and remains vigilant to potential risks stemming from global supply chain/inflation issues and rising interest rates.</li>
	<li>Callaghan believes the share price reflects a reasonable margin of safety and sees an increasingly bullish picture emerging should momentum continue into the back half of 2022.</li>
	<li>Price Action:&nbsp;MRD shares are trading higher by 2.74% at C$13.86 on TSX on the last check Wednesday.</li>
</ul>

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Wednesday, May 11, 2022

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