0010 GMT - REA's bull at Bell Potter says the News Corp.-controlled advertiser has further entrenched its leadership position with Australia's real-estate audience. Analyst Michael Ardrey says that vendors increasingly prioritize the platform over its main rival, with uptake of premium products driving ongoing strength in the company's buy yield. Confidence among property sellers continues to underpin a positive operating environment despite elevated interest rates, he tells clients in a note. Bell Potter keeps a buy rating on the stock and lifts its target price 7.9% to A$258.00. Shares are down 0.1% at A$233.92. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 10, 2024 19:10 ET (00:10 GMT)
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