Australia's Arena REIT No 1 rises as Jefferies upgrades to 'buy'

Arena REIT No 1

08/10/2026 24:37

Updates
** Australia's Arena REIT No 1 ARF.AX rises as much as 6.8% to A$2.51, its highest level since August 21
** Analysts at Jefferies upgrade rating to "buy" from "hold" at a price target of A$2.66
** Broker says conditional agreement for Goodstart Early Learning to acquire 20 of ARF's 27 Edge-leased centres materially reduces a key overhang on the stock
** Notes administrators received 37 non-binding offers for Edge centres, with every operating centre attracting at least one bid
** Jefferies says ARF's conservative balance sheet and fully hedged debt profile should support earnings over the near- to medium-term
** Stock down 30.3% YTD, including session's moves

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))