Jefferies raises PT on Australia's Centuria Office REIT

Centuria Office REIT

02/02/2023 23:14

** Jefferies raises price target on the stock of Australia's
Centuria Office REIT  COF.AX  to A$1.72 from A$1.57 after
first-half results were ahead of brokerage estimates and
consensus 
    ** COF should sell assets to reduce elevated gearing -
Jefferies
    ** Co on Thursday posted funds from operations (FFO) per
weighted average unit of 8.1 AU cents per share, which was
slightly ahead of estimates
    ** The property investor maintained its full-year FFO per
unit and distribution guidance; brokerage retains 'hold' rating
    ** Four of nine analysts rate the stock "buy" or higher,
four "hold" and one "sell"; their median PT is A$1.89 –
Refinitiv data
    ** Stock fell 34.6% in 2022
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))