Citi sees earnings catalysts for Mirvac Group from FY25; raises PT

Mirvac

16/08/2023 22:47

** Analyst at Citi see a number of catalysts for earnings
growth on Australian property developer Mirvac Group  MGR.AX 
from fiscal 2025
    ** Brokerage raises PT to A$2.50/share from A$2.40;
maintains 'neutral'
    ** Sees lower costs related to debts; expects recovery in
master plan communities business volumes
    ** Two of 14 analysts rate the stock "buy", nine "hold" and
three "sell" or lower; their median PT is A$2.32– Refinitiv data
    ** As of last close, stock had risen 12.7% this year 


($1 = 1.5574 Australian dollars)

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