REA's 3Q Result Should Be Positively Received -- Market Talk

Dow Jones05-09

2333 GMT - REA Group's 3Q performance and improved outlook should be viewed positively by the market even though most of the drivers are already well understood, E&P analyst Entcho Raykovski says. He tells clients in a note that he expects shares in the Australian real-estate advertiser to outperform the broader market, pointing out that REA's 3Q Ebitda was 1.8% higher than he had anticipated. He adds that REA's FY yield and listing expectations are both higher than the company had previously outlined. E&P has a last-published neutral rating and A$164.00 target price on the stock, which is at A$185.00 ahead of the open. REA is 61% owned by News Corp., which owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 08, 2024 19:33 ET (23:33 GMT)

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