Citi raises PT for Australia's GemLife Communities, sees higher margins
21/06/2026 20:52
BUZZ-Citi raises PT for Australia's GemLife Communities, sees higher margins ** Citi raises price target for GemLife Communities Group GLF.AX by 5% to A$5.50, retains 'buy'
** Citi says real estate developer at pre-blackout meeting noted strong inquiry over the last three months, driven by strong sales in Australia's Queensland state
** Brokerage highlighted limited construction costs increases and flagged no impact from the new federal budget, which is expected to affect housing in Australia
** Citi says updated estimates reflect higher margin than previously expected, says GLF is preferred land-lease play
** YTD, shares down 6.5%; last closed at A$4.75
(Reporting by Nichiket Sunil in Bengaluru; Editing by Edmund Klamann)
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