0040 GMT - Ingenia Communities' bull at Citi continues to see value in the Australian accommodation developer despite its share-price strength. Analyst Suraj Nebhani reiterates his buy rating, pointing out that much of the 15% share-price appreciation so far in 2025 occurred early in the year. He tells clients in a note that an improved earnings outlook means that the stock has still de-rated. The operating environment could further improve with interest-rate cuts, he adds. Nebhani expects Ingenia to beat consensus expectations when it reports results next month. Citi trims its target price 4.6% to A$6.20. Shares are up 0.2% at A$5.26. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
July 20, 2025 20:40 ET (00:40 GMT)
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