Mirvac's Share Price Seen Treading Water on Macro Pressures
Dow Jones06:50
Now is not the time to turn bullish on homebuilder Mirvac, suggests Jefferies. "With no signs emerging of an inflection point in the residential housing market, we believe sentiment pressures will continue to weigh on the stock in the near term," analyst Andrew Dodds says. Jefferies has a hold call and A$1.80/share price target on Mirvac, which ended Monday at that level. Jefferies says the outlook for Mirvac's settlement volumes seems OK, largely due to an expanding active project base. The business is also supported by default rates near decade-lows and gross margins on non-impaired lots tracking back above its 18-22% target. Mirvac is due to report its FY26 result on Aug. 19.
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