Australian real estate listing company REA Group, which is controlled by News Corp, has experienced a 1% increase in its share price, reaching AUD 236.63. UBS has raised its price target for the company from AUD 236 to AUD 268, while maintaining a "buy" rating.
UBS believes that REA Group's solid performance demonstrates effective execution and positions the company for significant growth throughout the remainder of fiscal year 2025. UBS has also revised its revenue estimates for REA Group upward by an average of 2% for the fiscal years 2025 to 2027.
Since the beginning of the year, REA Group's stock has surged by 29.3%, which highlights the company's strong market position.