Vicinity Centres' appointment of Huddle as CEO positive for operational outlook - Citi

Vicinity Centres

31/01/2023 03:51

** Vicinity Centres'  VCX.AX  appointment of Peter Huddle as
chief executive officer (CEO) positive for management stability
and operational retail outlook - Citi 
    ** Huddle's global retail real estate background, navigation
of Vicinity portfolio through COVID-19 challenges will aid
business in future - Citi
    ** Citi retains PT of A$2.08 and "neutral" rating
    ** Shares of Australian mall operator Vicinity Centres down
as much as 1% to A$2.06 after early gains
    ** Huddle, who has been acting CEO since Nov. 16, joined co
as chief operating officer in March 2019
    ** Broker says investors will seek comments on strategic
direction under new management, recovery of retail portfolio as
footfall improves, and update on underlying cap rates and
financial position
    ** Stock rose 18.3% in 2022
 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))