HMC – Credit Suisse rates the stock as Neutral
The broker raises the target to $7.53 from $5.87 and retains a Neutral rating.
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Home Consortium
Home Consortium is a wholly Australian-owned property group, backed by some of Australia’s most successful retail organisations.
In 2016, the company acquired the property assets formerly occupied by Masters hardware and began the process of creating a new concept in value and convenience-based shopping in regional and outer-metro areas across the country.
Today, a portfolio of 35 assets are present in five states under the HomeCo brand, offering a unique mix of everyday needs and inspired lifestyle brands, with many anchored by national supermarkets and many of Australia’s most successful retail brands. HomeCo is built on a platform of hyper-convenience and everyday value, anchored by Australia’s leading supermarkets, daily-needs and services enterprises, and delivering a sustainable trading model for brands in a diversity of retail categories including lifestyle, health and wellness, homewares and electronics.
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HMC – UBS rates the stock as Sell
The broker initiates coverage with a Sell rating and $5.20 target, given the excessively high expectations for asset growth implied by current market pricing.
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HMC – Morgans rates the stock as Add
The Add rating is maintained and the target lifts to $5.01 from $4.17.
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HMC – Credit Suisse rates the stock as Neutral
First half results were in line with Credit Suisse's expectations, with completed developments the main driver of growth. Neutral maintained. Target is raised to $3.90 from $3.87.
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HMC – Morgans rates the stock as Add
Morgans notes Home Consortium had an active end to 2020 after spinning off the HomeCo Daily Needs REIT ((HDN)), new acquisitions and a capital raising. The Add rating is unchanged and the target price increased to $4.27 from $3.60.
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