First half earnings were marginally better than Deutsche Bank’s estimates. The broker considers the stock attractive from a valuation perspective versus its peers, noting an FY18 yield of 6.4% versus peers of 5.3%.
Buy rating retained. Target is raised to $2.72 from $2.62.
Sector: Real Estate.
Target price is $2.72.Current Price is $2.16. Difference: $0.56 – (brackets indicate current price is over target). If VVR meets the Deutsche Bank target it will return approximately 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).