Australia's Vicinity Centres rises as brokers remain positive around 1Q

Vicinity Centres

01/11/2023 02:24

** Shares of Australia's Vicinity Centres  VCX.AX  rise as
much as 1.5% to A$1.73, their biggest intraday pct gains since
Oct 17
    ** Analysts at Citi say the shopping mall operator produced
a resilient Q1FY24 update, which highlighted portfolio sales of
a 2.7% jump 
    ** Brokerage UBS upgrades stock rating to "neutral" from
"buy" after the first-quarter update
    ** UBS says rating upgrade reflects a
stronger-than-anticipated macro environment coupled with an
ability to maintain balance sheet strength
    ** Brokerage Citi has "neutral" rating on co
    ** Stock down 15% this year, as of last close 

    

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