Citi reduces price target for Australia's BWP Trust

BWP Trust

25/07/2023 20:53

** Analysts at Citi reduce price target for real estate
investment trust BWP Trust  BWP.AX  to A$3.50 from A$3.60 
    ** Citi updates forecasts for co on higher interest costs,
ahead of BWP's upcoming results for year ended June 2023
    ** Brokerage lowers FY23 and FY24 earning per share
estimates by 1.1% and 1.7%, respectively; retains "sell" 
    ** Citi says higher development costs may extend development
activities across alternative use assets in the short term for
co
    ** One of 7 analysts rate the stock "hold" and 6 "sell" or
lower; their median PT is A$3.61 - Refinitiv data
    ** Shares of co are down 5.4% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))