Citi impressed by Australia-listed Aspen's earnings beat, reaffirmed guidance

Aspen

05/10/2026 05:39

** Shares of Aspen APZ.AX last flat at A$4.49, was up 1.3% earlier
** Citi says the co's first-quarter update beats even bullish expectations, with a 38% jump in Q1 EBITDA on pcp, with strong execution from rental and development businesses
** Brokerage adds management reiterating FY27 guidance is positive and reflective of management discipline 
** "Our view is that investors will likely walk away impressed by the quality of Aspen's metro-adjacent locations and the depth of its value-add pipeline," says Citi
** Citi retains a BUY rating at A$6.10 TP, implying 35.9% expected upside to share price from A$4.49 close on October 2 at 1600 GMT
** Five of five analysts rate the stock "buy" or higher; their median PT is A$6.10 – LSEG data
** Stock down 24% YTD, including sessions' moves

 (Reporting by Nichiket Sunil and Shravya Marakini in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))