LendLease shares drop after Morgan Stanley forecasts bigger annual loss
03/06/2026 02:42
BUZZ-LendLease shares drop after Morgan Stanley forecasts bigger annual loss ** Analysts at Morgan Stanley lower price target for Australia's LendLease LLC.AX to A$3.25 from A$3.89, maintain 'equal-weight' stock rating
** Stock falls as much as 2.6% to A$2.690
** Brokerage says LLC's target of reducing gearing to ~15% by the end of June 2026 is unlikely to be achieved, unless it receives a significant amount of cash proceeds from uncontracted sales
** Morgan Stanley widens forecast for the integrated real estate business's FY26 net loss after tax to A$352 million ($252.63 million) from A$119 million projected earlier
** LLC down 49% YTD
($1 = 1.3933 Australian dollars)
(Reporting by Keshav Singh Chundawat in Bengaluru)
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