First half results were weaker than expected because of the timing of residential settlements. However, Deutsche Bank observes office and industrial compensated.
The broker maintains a Buy rating, believing there is further potential for asset upside. Target is $2.62.
Sector: Real Estate.
Target price is $2.62.Current Price is $2.55. Difference: $0.07 – (brackets indicate current price is over target). If MGR meets the Deutsche Bank target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).