DNR Capital: Talking Stock – REA Group (ASX:REA)
DNR Capital’s Jamie Nicol speaks with Informed Investor about REA Group (ASX: REA), a leader in the global digital property industry.
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REA Group is a digital media business with more than 1,400 people working across three continents to change the way the world experiences property.
Our purpose is to change the way the world experiences property. We want to help people with all aspects of their property experience – not just buying, selling, and renting. So, we provide our customers and consumers with the most up to date property news, renovation tips, lifestyle content and property estimates.
DNR Capital’s Jamie Nicol speaks with Informed Investor about REA Group (ASX: REA), a leader in the global digital property industry.
Watch Now
American home sales hit a 30-year low, delivering bad news for News Corp and its 61% owned Australian US property listings REA Group.
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The analyst upgrades the rating to Buy from Neutral. At the same time, the target falls to $130 from $155.
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Morgans lowers its target price for REA Group to $145.40 from $156.30. As the amended target price is still more than 10% above the prevailing share price, the broker raises its rating to Add from Hold.
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The Neutral rating is maintained on downside risk to the consensus forecast in the medium term. The target price eases to $158 from $162.
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The latest half year figures from News Corp’s digital house listings arm REA Group has confirmed that it’s the middlemen that make a lot of money - and not just the banks.
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Morgans lifts its target price to $160.4 from $139.4.
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Neutral maintained. Target rises to $152 from $148.
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News Corp’s 61% owned property listing business REA Group is continuing to withdraw from involvement in Asian markets that once were seen as key to its future growth outside Australia.
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REA Group holds one of the most privileged positions in real-estate of any company in the world. Within its home market of Australia, ~65% of the adult population visit the website every month, a number that keeps growing!
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The Hold rating is unchanged and the target is increased to $139.4 from $131.
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