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ubs upgrades charter hall retail reit to buy despite price target cut
UBS has upgraded Charter Hall Retail Reit (CQR) to 'Buy' from 'Neutral' following the acquisition of Hotel Property Investments (HHPI), despite lowering the price target to A$3.69 from A$3.79 to better align with peers. CQR shares rose 3% to A$3.48, with 5 of 7 analysts rating the stock as "buy." However, the stock experienced a decline of 12.7% in 2024.
Cochlear reported a revenue of $1.17 billion, marking a 5% year-over-year growth, with a net profit after tax of $205.1 million, up 7%, and an interim dividend of $2.15 per share. AMP Limited's underlying NPAT rose 15% to $236 million, but profits for the 2024 financial year nearly halved to $150 million due to the sale of its adviser business. Charter Hall Retail REIT's profit was $108.6 million, with operating earnings down 7% year-over-year, while GQG Partners saw a significant revenue growth of 46.9% to $760.4 million and a net profit after tax increase of 52.8% to $431.6 million.
asx 200 reporting season highlights revenue growth and strategic company changes
Nick Scali reported a revenue of $251 million, marking a 10% year-over-year growth, but profits fell 30% to $30 million, with a dividend of $0.30 per share. Charter Hall Retail REIT saw a significant revenue increase of 119% to $51 million. Domino's Pizza plans to close 205 unprofitable stores, focusing on cost efficiencies in Japan and France, while A2 Milk receives a buy rating from Bell Potter and Citi, with a price target of $2.81 per share. McMillan Shakespeare was downgraded from buy to hold, with a price target of $15.80. Upcoming updates from JB Hi-Fi, Carsales.com, Dexus Convenience Retail REIT, and Fiducian Group are anticipated.
strong financial results reported by news corp and other asx companies
News Corp reported a revenue of US$2.24 billion, marking a 5% year-over-year growth, with net income rising 58% to US$306 million. REA Group achieved A$873 million in revenue, up 20% YoY, while Beach Energy's sales revenue reached A$990 million, reflecting a 5% increase. Pexa Group announced a significant rise in its impairment forecast, and upcoming earnings reports are anticipated from AGL Energy, Charter Hall Retail REIT, Nick Scali, and Lithium Energy.
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