Australia's HMC Capital gains; Bell Potter lifts PT and earnings estimates

HMC Capital

08/05/2024 03:44

** Shares of Australia's HMC Capital  HMC.AX  rise as much
as 2.3% to A$7.06
    ** Analysts at Bell Potter raise PT on the real estate and
alternative assets manager to A$7.3 from A$7.05, and maintains
"hold"
    ** Brokerage lifts earnings estimates on HMC in the range of
3% to 19% for FY24-26
    ** The asset manager announced energy transition fund on May
6 after market hours to raise up to A$2 bln ($1.31 bln)
    ** Update is positive and momentum is building in what is
otherwise a challenging period for real estate - Bell Potter
    ** Stock has risen 12% this year, as of last close

    ($1 = 1.5221 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))