Citi says Australia's Mirvac Group's FY24 outlook is in line with consensus

Mirvac

01/05/2024 20:01

** Citi says Mirvac Group  MGR.AX  maintaining its FY24
operating earnings per security forecast of 14.0-14.3 AU cents
is in line with consensus of 14 AU cents
    ** Adds, sale of a stake in MGR's office development project
in Sydney is crucial for meeting co's FY24 forecast
    ** Brokerage sees "potential for downside" for co's FY24
earnings outlook
    ** Retains "neutral" rating and a target price of A$2.30
    ** Two of 11 analysts rate the stock "buy" or higher, eight
"hold" and one "sell" or lower; their median PT is A$2.30 – LSEG
data
    ** Stock has fallen 1.4% YTD, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))