2333 GMT - Analysts at Macquarie say Australian construction and real estate firm Lendlease has "delivered better than expected to date" on its new strategy, which aims to simplify the business and sell assets. Although Macquarie says the effort will be a drawn out process with a degree of valuation and earnings risk, it still supports the new strategy--and sees it reducing the company's risk profile and improving returns and earnings quality. Macquarie, writing after Lendlease's 1H result, increases its target price on the stock to A$7.24 from A$7.08 and keeps its outperform rating. Lendlease is at A$6.71 today. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
February 17, 2025 18:33 ET (23:33 GMT)
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