Citi sees expansion opportunities for Australia's Goodman Group

Goodman

14/06/2024 24:13

** Analysts at Citi add property developer Goodman Group
 GMG.AX  to their Pan-Asia Focus list given the double-digit
medium-term earnings growth outlook for co
    ** Brokerage retains target price of A$40.00/shr and "buy"
rating
    ** Conversion opportunity of Goodman's assets from
traditional warehouses into data centres presents a robust
growth opportunity - Citi
    ** Analysts at brokerage expect likely delivery of large
range of products from powered sites and turnkey projects
    ** Six of 11 analysts covering the stock rate it "buy" or
higher
    ** Stock has risen 40.4% YTD, as of last close

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