REA – UBS rates the stock as Buy

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UBS found the third-quarter update positive as the company will reduce costs by -20% and the slump in listings appears to be better than some bear case scenarios.

However, the broker suggests the fourth quarter may be even messier, as some of the offerings and initiatives outlined in March will delay revenue recognition into the future. Buy rating and $100 target maintained.

Sector: Media.

Target price is $100.00.Current Price is $95.17. Difference: $4.83 – (brackets indicate current price is over target). If REA meets the UBS target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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