Australia's G8 Education rises as Macquarie upgrades rating, PT

G8 Education

03/07/2024 03:51

** Shares of G8 Education  GEM.AX  up as much as 3.6% to
A$1.228, hitting their highest level since late-May
    ** Macquarie expects occupancy rates for the childcare
centre operator to continue improving, although it expects to
see moderation in H2
    ** Brokerage upgrades target price to A$1.35/shr from
A$1.26/shr; upgrade rating to 'outperform' from 'neutral'
    ** Improving occupancy trends, increased staff availability
and divestment of underperforming centres would support EPS
growth - Macquarie
    ** Four analysts rate the stock equivalent of "buy" or
higher, one "hold" and one "sell"; their median PT is A$1.39 -
LSEG data
    ** Stock largely flat YTD, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))