GMG - UBS rates the stock as Neutral
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UBS observes Goodman Group is a well-run business and has sustainable growth with a conservative capital structure in a sector with strong tailwinds. However, the valuation is considered full and there is no short-term de-rating in sight.
UBS continues to forecast 6% growth in FY19-20, predominantly driven by management income. The broker retains a Neutral rating and raises the target to $8.30 from $7.68.
Sector: Real Estate.
Target price is $8.30.Current Price is $8.51. Difference: ($0.21) - (brackets indicate current price is over target). If GMG meets the UBS target it will return approximately -3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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