Morgans considers Maas Group has laid the foundations for further strong growth over FY23 and FY24,following the acquisition of a large-scale residential development site in Rockhampton, QLD.
The transaction increases the group’s development pipeline by 40% and diversifies the business by geography, points out the analyst.
The broker likes the strong medium-term growth outlook and retains the Add rating. The target rises to $5.90 from $5.85.
Sector: Materials.
Target price is $5.90.Current Price is $4.37. Difference: $1.53 – (brackets indicate current price is over target). If MGH meets the Morgans target it will return approximately 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).
