Citi lifts target price for Lifestyle Communities as Hometown Australia raises stake

Lifestyle Communities

24/05/2026 21:55

** Citi raises target price to A$5.40 but retains "neutral" rating on Australia's Lifestyle Communities LIC.AX

** The brokerage firm expects the market to be positively skewed toward takeover potential for LIC after U.S.-based Hometown Australia increased its stake in the company to ~13.2% from ~9.8%.

** It said the stock has traded at significant discount to book value versus its peers which trade at either a very small discount or a premium.

** Hometown Australia made an initial acquisition in March, with the stock jumping 17.2% on the day. Citi expects a similar reaction on Monday.

** Two of seven analysts rate the stock "buy" or higher, four "hold", and one "sell"; their median price target is A$5.50, as per data compiled by LSEG.

** Down 3.4% YTD, as of last close.

 (Reporting by Anjali Singh in Bengaluru; Editing by David Gregorio)

 ((anjali.singh2@thomsonreuters.com;))