Jefferies cuts PT of Australia's Centuria Industrial on conservative outlook

Centuria Industrial Reit

01/02/2022 23:55

** Jefferies cuts price target on Centuria Industrial REIT
 CIP.AX  to A$4.45 from A$4.51, maintains "buy" rating
    ** Says robust H1 FY22 results were due to lower debt costs
    ** Co posted H1 funds from operations (FFO) up 26% on a
yearly basis to A$53.9 mln ($38.36 mln), beating brokerage's
estimate of A$52.4 mln  urn:newsml:reuters.com:*:nFWN2UB1SK
    ** Despite robust performance, CIP has given conservative
FY22 guidance - Jefferies; co upgraded FFO guidance by 0.6% due
to potentially higher debt costs in 2H22 
    ** Six of 11 analysts rate the stock "buy" or higher and
five "hold"; their median PT is A$4.10 – Refinitiv data
    ** Stock has fallen 6.44% this year, as of last close, 


($1 = 1.4053 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))