2231 GMT - REA Group's business model is strong enough for the Australian real-estate advertiser to sustain the departure of its chief executive, E&P analyst Entcho Raykovski says. He acknowledges that retiring CEO Owen Wilson is incredibly well regarded, but is confident in the business. He writes in a note that REA's fiscal first-half result looks good. The News Corp-controlled classifieds provider's solid start to its second half is slightly offset by higher operating-expense guidance, he adds. E&P has a last-published neutral rating and A$206.80 target price on the stock, which is at A$251.85 ahead of the open. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 17:31 ET (22:31 GMT)
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