BUZZ-Citi says Australia's Domain to outperform REA in listings, bumps up outlook

Reuters
05 Nov 2024

** Citi forecasts stronger listings growth in Q1 for property marketplace operator Domain Holdings Australia when compared with larger peer REA Group

** Brokerage sees 8% Y-O-Y growth for DHG in Q1 vs 7% Y-O-Y growth for REA in Q1

** Citi expects controllable yield growth for DHG to be negatively impacted by free listings coming back to the platform

** Maintains "buy" rating and price target of A$3.65 for DHG

** DHG to provide its trading update for first quarter on Nov. 6

** Citi upgrades DHG's listing volume growth assumption by 1% for the fiscal 2025

** DHG down ~12.2% YTD as of last close vs 31.6% rise on the ASX All Technology index

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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