Incremental news from the trading update has related to residential listings in April, which were better than some of the feedback Credit Suisse has received from agents.
Domain’s decline was less severe, down around -20%, compared with some agents reporting listings declines of -50-70%. The broker allows for some further slowdown from April in its forecasts but eases back on the extent.
Outperform rating maintained. Target is raised to $2.90 from $2.80.
Sector: Software & Services.
Target price is $2.90.Current Price is $2.72. Difference: $0.18 – (brackets indicate current price is over target). If DHG meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
