BUZZ-Citi says Australia's Goodman Group to benefit from shift towards data centres

Reuters11-12 05:11

** Citi says Goodman Group's shift towards turnkey developments and data centre operations suggests medium- to long-term growth, beginning high-value projects in 2025

** Brokerage sets a "buy" rating with PT of A$40

** Demand for data centres continues to grow and the property group remains well positioned to support this, says Citi

** Co highlighted that industrial development continues to progress in key markets where the demand-supply balance remains intact

** Sees potential for growth in GMG's 5GW data centre pipeline & under-rented industrial portfolio

** 6 of 10 analysts rate the stock "buy" or higher, 3 "hold", 1 "sell"; their median PT is A$37.31– LSEG data

** Shares up 44.7% YTD as of the last close

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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