Citi says Australia's Goodman Group to benefit from shift towards data centres

Goodman

11/11/2024 21:11

** Citi says Goodman Group's  GMG.AX  shift towards turnkey
developments and data centre operations suggests medium- to
long-term growth, beginning high-value projects in 2025
    ** Brokerage sets a "buy" rating with PT of A$40
    ** Demand for data centres continues to grow and the
property group remains well positioned to support this, says
Citi
    ** Co highlighted that industrial development continues to
progress in key markets where the demand-supply balance remains
intact
    ** Sees potential for growth in GMG's 5GW data centre
pipeline & under-rented industrial portfolio
     ** 6 of 10 analysts rate the stock "buy" or higher, 3
"hold", 1 "sell"; their median PT is A$37.31– LSEG data
    ** Shares up 44.7% YTD as of the last close

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))