Why this major broker thinks Home Consortium (ASX:HMC) is a ‘buy’

Despite its share price trading more or less sideways over the last couple of months, major broker Goldman Sachs believes retail property group Home Consortium (ASX:HMC) is a buy.

Goldman reinstated its coverage over the company last week and has slapped a 12-month price target of $4.20 on the company’s shares. This would represent more than an 8% upside on the company’s current share price of just $3.83.

What is Home Consortium?

Home Consortium manages a retail and commercial property portfolio valued at over $1.7 billion. After the Masters home improvement brand went belly-up back in 2016, Home Consortium purchased the Masters property portfolio from Woolworths Group Ltd (ASX:WOW). The group renovated the old Masters sites…