0029 GMT - Australian real-estate advertiser Domain loses its bull at Bell Potter amid uncertainty over the housing-market impact of next year's federal election. Analyst Michael Ardrey tells clients that the expectation that the Reserve Bank of Australia won't start cutting interests until May creates additional uncertainty for the market. Home-buying activity typically rises as borrowing costs fall. In performance terms, Ardrey says Domain's challenge is to prove that its Audience Boost product increases listings views. This should support listings and yield growth. Bell Potter cuts its target price 8.6% to A$3.20 and lowers its recommendation to hold from buy. Shares are down 3.0% at A$2.785. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 19:29 ET (00:29 GMT)
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