Jefferies says +9% yield growth commendable for Domain Holdings, hikes PT

Domain Holdings Australia

16/02/2023 23:08

** Jefferies says yield growth of +9% for Domain Holdings Australia  DHG.AX 
is commendable given the fall in listings in Q2, which has continued into Jan
2023; hikes price target to A$3.23, maintains "hold" rating
    ** The property listing firm on Thursday announced interim dividend of 2 AU
cents/share; posted net profit attributable of A$15.9 million vs A$26.1 mln
    ** Brokerage says despite the weak market conditions, DHG's adjacent
products are more resilient than the core listings business
    ** Jefferies, however, cuts EPS estimate by 10% in FY23 driven by higher
depreciation and interest costs, partially offset by higher yield growth 
    ** Six of 13 analysts rate the stock "buy" or higher, six "hold" and one
"sell" or lower – Refinitiv data
    ** Stock has risen 17.3% this year 
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))