MGR – UBS rates the stock as Buy

UBS reviews development submissions for the Willoughby and Harbourside projects to better understand the pre-sales potential of new Sydney apartments.

This results in a de-risked and elevated earnings profile out to FY26. Willoughby’s end value has risen 29% on the back of local market strength while the broker has questions regarding Harbourside around funding and retail options.

UBS retains a Buy rating and raises the target to $3.15 from $2.84.

Sector: Real Estate.


Target price is $3.15.Current Price is $2.92. Difference: $0.23 – (brackets indicate current price is over target). If MGR meets the UBS target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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