Canaccord trims PT on retirement and aged care firm Lifestyle Communities

Lifestyle Communities

16/08/2023 22:15

** Analysts at Canaccord Genuity trim PT on Australian
retirement and aged care provider Lifestyle Communities  LIC.AX 
to A$17/share from A$17.10/share
    ** The company on Wednesday announces a total of 356
settlement in fiscal 2023, down from 401 in fiscal 2022
    ** Brokerage downgrades new home settlement estimates on co
to 475 from 515 for FY24 and for FY25 to 600 from 643
    ** Canaccord further revises underlying net profit after tax
expectations on LIC by 9% and 14% for FY24 and FY25,
respectively 
    ** LIC fell as much as 12% on Wednesday before paring some
losses and ending the day 4.3% lower
    ** Stock has fallen 12.5% this year, as of last close

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