Australia's Ingenia Communities falls most in a week; UBS cuts rating, but hikes PT

Ingenia Communities

10/02/2025 02:44

** Property developer Ingenia Communities Group  INA.AX 
falls 2.2% to A$5.66; set for biggest intraday pct drop since
February 3
    ** Stock snaps four sessions of gains; tracks losses in
Australian markets - broad S&P/ASX 200 index  .AXJO  down 0.4%
    ** UBS downgrades to "neutral" from "buy", citing period of
strong price outperformance, where INA gained more than the
Australian REIT sector
    ** Upgrades PT to A$6.15 from A$5.79 to factor in upgraded
FY25 earnings outlook driven by stronger margins, lower interest
costs and lower tax rates
    ** Stock rated "buy" on avg; median PT is A$5.66 – LSEG
    ** INA rose 2.9% in 2024

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))