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REA Group shares rose 1.1% to A$236.76 after UBS increased its price target to A$268, citing strong first-quarter results that exceeded market expectations. The company is poised for significant growth in FY25, with sales estimates for FY25-27 revised upwards by 2% on average. In contrast, smaller rival Domain Holdings saw a 1.9% decline in shares, highlighting REA's outperformance, particularly in Sydney and Melbourne.
REA Group shares rose 1.1% to A$236.76 after UBS upgraded its price target to A$268, citing solid Q1 results that exceeded market expectations. The brokerage anticipates continued growth for REA in FY25, while Morningstar noted the company's outperformance against Domain Holdings, particularly in Sydney and Melbourne.
Australian company REA Group, controlled by News Corp, saw a 1% increase in its stock price to A$236.63 following strong first-quarter results that exceeded market expectations. UBS raised its price target to A$268 and maintained a "buy" rating, anticipating solid growth for the remainder of fiscal 2025. The company's revenue estimates for fiscal years 2025-2027 have been revised upward by an average of 2%, with REA's stock up 29.3% year-to-date.
REA Group Limited
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REA Group shares rise as UBS boosts price target after strong results
Australian Dollar
News Corporation
REA Group Limited
Morningstar, Inc.
Domain Holdings Australia Limited
AUS
Rupert Murdoch
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04:10 11.11.2024
UBS upgrades REA Group outlook following strong Q1 performance
04:10 11.11.2024
REA Group sees growth as UBS raises price target after strong results
03:13 11.11.2024
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