Homebuilder Peet in Right Place at the Right Time -- Market Talk

Dow Jones
2025/12/04

2343 GMT - Property markets in Western Australia and Queensland have been particularly strong recently, and that's good news for developer Peet, which has multiple projects in each state, says Euroz Hartleys. Analyst Gavin Allen points to Peet's Flagstone development in Queensland, along with projects in Yanchep and Alkimos in WA, as examples. Peet's recent trading update signaled a FY 2026 net profit of A$74 million-A$78 million. At the top end, that would represent growth of 34% on Peet's record A$58.5 million profit in FY 2025. Euroz Hartleys raises the target by 11% to A$2.56 after upgrading its revenue and earnings forecasts. "Our previous numbers excluded any meaningful recovery from Victorian and ACT markets, which offers potentially unmodelled upside," Euroz Hartleys says. Peet is down 0.8% at A$1.945. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

December 03, 2025 18:43 ET (23:43 GMT)

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