Citi retains 'buy' rating for Australia's Goodman Group

Goodman

04/02/2024 19:32

** Shares of Goodman Group  GMG.AX  rose 6.2% on Friday 
    ** Citi retains "buy" rating and sets target price at
A$25.50 ($16.61)
    ** Brokerage sees higher potential for property group to be
included in the next upcoming rebalance of the FTSE EPRA Nareit
Global Real Estate Index, which tracks the performance of listed
real estate companies
    ** Inclusion could present strong potential buying from
passive and index cognisant investors in the index - Citi
    ** Analysts see this change as presenting a potential upside
catalyst for the stock due to higher passive buying demand in
the stock
    ** Ten of 12 analysts rate the stock "buy" or higher, one
"hold" and one "sell"; their median PT is A$26.51 – LSEG data
    ** Stock rose ~46% last year
    
    
   


($1 = 1.5354 Australian dollars)

 (Reporting by Neha Soni in Bengaluru; Editing by Sharon
Singleton)
 ((Neha.Soni@thomsonreuters.com))