2245 GMT - Hometown Australia's move to raise its stake in Lifestyle Communities highlights the potential for the over-50s homebuilder's share price to pop, says Citi. Hometown has raised its stake in LIC to 13.2%, from 9.8%, this month. Analyst Suraj Nebhani says the market reacted positively to Hometown's announcement in March that it had built a significant stake in LIC, with the stock was up 17% on the day. "We see potential for a similar reaction on Monday, and expect the market to be positively skewed toward takeover potential for LIC," Citi says. It retains a neutral call on LIC with a new price target of A$5.40/share. LIC ended last week at A$4.88. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 24, 2026 18:45 ET (22:45 GMT)
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