Peet Limited

( ASX:PPC ) - Real Estate


More Deals Plus More Upside For Peet

Last month Citi initiated coverage on property syndicate and development group Peet Limited (PPC) with a Buy rating (see: Value In Peet As It Scales Up Operations, FNArena, 18/6/2010) and since then interest in the company has grown, to the extent BA Merrill Lynch has now also initiated coverage with a similar Buy rating.

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Value In Peet As It Scales Up Operations

Real estate development group Peet Limited (PPC) is the third biggest land holder in Australia as measured by number of lots, the company’s current land bank standing at 33,192 lots. This implies an on-completion value of around $6.7 billion according to Citi, it also represents 14 years of production at current levels.

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Analyst Views