Domain Holdings Australia: Jefferies lifts PT; says listings outlook remains uncertain

Digital Domain Holdings

10/11/2020 20:47

** Jefferies raises price target of property listing firm
Domain Holdings Australia  DHG.AX  to A$4.22 from A$3.40;
retains rating as "hold"
    ** Also upgrades firm's FY21 EPS estimates by 18% 
    ** Co on Tuesday said trading in FY21 year-to-date improved
from FY20 Q4 despite impact of the COVID-related lockdown in
Victoria  urn:newsml:reuters.com:*:nASX7nX8rg
    ** Brokerage notes co's residential depth revenue was
strong, up c.20% YoY in Q1, but had lower subscription and
softer month in Oct.
    ** Depth penetration rates increased in New South Wales,
Queensland and Western Australia, reflecting success of its new
pricing model - Jefferies
    ** However, says outlook for listings remains uncertain
given unusual Spring season 
    
    
    
  

 (Reporting by Vasudha Kaukuntla in Bengaluru
Editing by Sonya Hepinstall)
 ((Vasudha.Kaukuntla@thomsonreuters.com))