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
Shares in REA Group (ASX:REA) jumped more than 4% yesterday, taking the recovery in the past week to nearly 9% as investors realised the Murdoch-controlled real estate listings platform would not get hold of its UK peer, Rightmove, despite a series of sweetened offers.
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A long moan from News Corp, or was it REA (ASX:REA), late Wednesday about the iniquities of UK property listings group, Rightmove, telling REA (and News) to go away for the third time.
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Somehow, News Corp’s 61% subsidiary, REA Group (ASX:REA), doesn’t quite understand that takeover targets are under no obligation to engage with an indicative bidder. They can simply close the door, hang up the phone, or ignore emails if they don’t wish to engage.
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UK property listings and services company Rightmove has said "no" for a second time to a new non-binding offer from News Corp’s REA Group.
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The prospective cost for News Corp’s 61%-owned REA Group (ASX:REA) to buy Rightmove in the UK has just risen well above A$11 billion.
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Investors didn’t welcome the news on Monday—shock news, actually—that the Murdoch family-controlled REA Group (ASX:REA) was looking to acquire a similar business in the UK.
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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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