Here’s why Westfield Corp Ltd is a stock to buy in 2015

Westfield Corp Ltd (ASX: WFD) has been a solid performer for investors since its inception into the ASX earlier this year and, if Bell Potter broker Charlie Aitken is correct, the stock could be in for a strong 2015, too.

Westfield Corp was formed in June this year as a result of Westfield Group’s global restructure. Westfield Corp owns and operates the group’s U.S. and European shopping centres while Scentre Group Ltd (ASX: SCG) owns and operates the Australian and New Zealand assets.

As the U.S. economy continues to recover from the Global Financial Crisis, the unemployment rate is declining, consumer confidence is sitting at fresh highs (partially as a result of waning oil prices), while the Aussie dollar is also on a downward trajectory . All of this should benefit Westfield Corp.

As quoted by The Australian Financial Review, Aitken said: “Macro conditions are in place for a strong Christmas in America and my number one Australian listed pick on this theme remains Westfield Corporation”.

Although Westfield Corp no longer provides a geographical breakdown of its performance – instead, it splits its global portfolio into “flagship” and “regional” malls – the shopping centre operator reported 5.6% growth in ‘flagship’ sales year-on-year. With 70% of Westfield Corp’s portfolio based in the U.S., it certainly bodes well for Mr Aitken’s investment thesis.

Aitken has given Westfield Corp a price target of $8.80 per share, reflecting an 8.2% upside from today’s $8.13 price tag. Add in the stock’s juicy dividend yield (currently 3.9%), and Westfield Corp could be a big winner for investors in 2015.

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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

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