** Analysts at Citi continue to prefer Ingenia Communities INA.AX as "a land lease play with attractive growth outlook"
** The Australian real estate property developer upgraded its FY25 forecast on Tuesday; now targeting EBIT of A$162 to A$165 mln ($100.25 to $102.10 mln), up from A$148 to A$155 mln previously
** Citi sees strong profits for the company resulting from its increased settlements from joint ventures
** Brokerage reiterates "buy" rating, with stock PT of A$6.15
** Brokerage sees better cost savings enabled through business streamlining and improving execution capabilities in land lease development flowing to improved EBIT guidance mentioned by company for FY25
** INA's stock up 13.5% YTD, as of last close
($1 = 1.6160 Australian dollars)
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))
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