Scentre's Opportunities Stretch Into Distance -- Market Talk

Dow Jones
08/27

2313 GMT [Dow Jones]--Citi raises its price target on mall owner Scentre by 18% to A$4.60/share, highlighting its operational momentum and opportunity to overhaul its debt. Positive leasing spreads of 3.0% in 1H indicate strong negotiating power with tenants, Citi says. "Catalysts remain with the potential for significant subordinated buybacks in the short term and potential for asset level joint ventures in the medium term," analyst Howard Penny says. Citi is also optimistic about Scentre's ability to develop residential property next to its shopping malls in the future, using excess land and parking lots. Citi retains a buy call on Scentre, which ended Tuesday at A$4.06. (david.winning@wsj.com)

 

(END) Dow Jones Newswires

August 26, 2025 19:15 ET (23:15 GMT)

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