0105 GMT - REA Group is more likely to engage in capital management than to take another near-term tilt at U.K. property advertiser Rightmove, Macquarie analysts write in a note. They tell clients that the announcement that Chief Executive Owen Wilson will retire in the second half of 2025 doesn't appear to leave room for a revised proposal for Rightmove. REA cannot make another approach for Rightmove until late March due to U.K. takeover rules. Macquarie's analysts say that the health of the Australian property market makes this the perfect time for News Corp-controlled REA to hike prices, but see this as unlikely. Macquarie lifts its target price 1.9% to A$270.00 and keeps a neutral rating on the stock. Shares are up 3.7% at A$264.41. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 20:06 ET (01:06 GMT)
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