SGP - Macquarie rates the stock as Neutral
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The company has confirmed free funds from operations forecasts for growth of 5-7%. On an underlying basis, Macquarie believes this implies 4-5% growth.
The broker considers the risk of disappointing earnings is low, with cost contingencies now greater than 5% and no release of the provisions in the residential business factored into company guidance. Neutral rating and $4.34 target retained.
Sector: Real Estate.
Target price is $4.34.Current Price is $4.40. Difference: ($0.06) - (brackets indicate current price is over target). If SGP meets the Macquarie target it will return approximately -1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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