Citi raises PT, estimates for Australia's Ingenia Communities on earnings outlook hike

Ingenia Communities

04/02/2025 19:32

** Citi raises price target for Ingenia Communities Group
 INA.AX  to A$6.30 from A$6.15, reiterates "buy" rating
    ** Brokerage raises EPS estimate for co by ~12% for FY25,
and ~4% for FY26-FY27
    ** "We raise our EPS estimates to reflect higher earnings
following the earnings guidance upgrade announced in mid-Jan
2025" - Citi
    ** The property developer said in mid-Jan it sees FY25 EBIT
in the range of A$162 mln to A$165 mln ($101.35 mln to $103.22
mln), up from earlier forecast of A$148 mln to A$155 mln
    ** The earnings increase primarily reflects lower overheads
as a result of cost savings measures, and driven by
lower-than-expected tax rate for FY25 and for future, says Citi 
    ** Six of seven analysts rate the stock "buy" or higher, and
one "hold"; their median PT is A$5.66 – LSEG data
    ** Stock up 21.8%, YTD
    
($1 = 1.5985 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com;))