Citi retains 'buy' rating on Australia's Region Re

Region Re

06/02/2024 19:25

** Citi retains "buy" rating for Region Re Ltd  RGN.AX ,
with a PT of A$2.60 
    ** Region remains a key recovery pick within coverage as
operating margins shift back to positive in short to medium term
- Brokerage
    ** Citi says operational and finance cost growth is peaking,
resulting in a more stable underlying margin environment that
could translate into a return of FFO and AFFO growth in FY25
    ** Five of nine analysts rate the stock "buy" or higher,
three "hold" and one "sell"; their median PT is A$2.48 – LSEG
    ** Stock fell ~17% last year
    

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))