0148 GMT - Domain's first-quarter controllable yield growth is likely to disappoint investors, as it falls short of the scale of the Australian real-estate advertiser's price increases, E&P analyst Entcho Raykovski writes. Raykovski notes that controllable yield for the September-quarter grew by 6%, compared with a 7.5% price rise, and that the difference is due to customers' increased use of downgrades. The analyst doubts this update will help narrow the performance gap with rival REA, controlled by News Corp. E&P holds a last-published neutral rating on the stock and a target price of A$3.20. Shares are down 6.4% at A$2.845. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 05, 2024 20:48 ET (01:48 GMT)
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