Citi backs Australia's REA, foresees growth amid Domain buyout

Domain Holdings Australia

26/03/2025 01:26

** Shares of News Corp-owned NWS.AX REA Group REA.AX rise as much as 1.6% to A$236.280

** Citi analysts believe that despite potential negative news flow around a possible acquisition of Domain DHG.AX by CoStar CSGP.O, and departure of REA CEO, the company remains a "buy"

** Brokerage sees REA's robust product execution to support double-digit growth in the firm's core residential business

** Citi lifts target price to A$275

** 8 of 14 analysts rate the stock "buy" or higher, 5 "hold" and 1 "sell"; their mean PT is A$258.62 — LSEG data

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))