Citi says Australia's Domain to outperform REA in listings, bumps up outlook

Domain Holdings Australia

04/11/2024 23:07

** Citi forecasts stronger listings growth in Q1 for
property marketplace operator Domain Holdings Australia  DHG.AX 
when compared with larger peer REA Group  REA.AX  
    ** Brokerage sees 8% Y-O-Y growth for DHG in Q1 vs 7% Y-O-Y
growth for REA in Q1 
    ** Citi expects controllable yield growth for DHG to be
negatively impacted by free listings coming back to the platform
    ** Maintains "buy" rating and price target of A$3.65 for DHG
    ** DHG to provide its trading update for first quarter on
Nov. 6
    ** Citi upgrades DHG's listing volume growth assumption by
1% for the fiscal 2025
    ** DHG down ~12.2% YTD as of last close vs 31.6% rise on the
ASX All Technology index  .AXTX 

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))