MGR – Morgan Stanley rates the stock as Equal-weight

Morgan Stanley estimates some downside risks to Mirvac Group’s earnings following media speculation that Toombul Shopping Centre will permanently close. It’s thought the site may be redeveloped in future for a variety of potential uses.

Management confirmed its has both asset and income insurance for the the centre. The Equal-weight rating and $2.60 target are retained. Industry View: In-Line.

Sector: Real Estate.

 

Target price is $2.60.Current Price is $2.22. Difference: $0.38 – (brackets indicate current price is over target). If MGR meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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