BUZZ-<a href="https://laohu8.com/S/MQG.AU">Macquarie</a> reinitiates coverage on Australia's <a href="https://laohu8.com/S/ABG.AU">Abacus Group</a> with 'outperform' rating ** Analysts at Macquarie reinitiate coverage on Australia's Abacus Group ABG.AX with "outperform" rating and target price of A$1.31
** Brokerage reinitiates coverage on the REIT, after a consortium led by U.S.-based Public Storage PSA.N withdraws non-binding indicative proposal for Abacus Storage King ASK.AX
** ABG is the manager of Abacus Storage King, a self-storage firm
** Brokerage says ABG intends to completely spin out ASK to a separate standalone entity and sell down its 19.8% stake
** Brokerage doesn't make changes to its earnings expectations for ABG
** ABG stock flat for the day at A$1.195, while ASK up 0.4% at A$1.39
** ABG up 8.9% YTD, while ASK has risen 23.6%
(Reporting by Roshan Thomas in Bengaluru)
((Roshan.Thomas@thomsonreuters.com;))
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