0333 GMT - Goodman's bull at Citi says its move to take full ownership of the industrial property trust it set up with Brickworks directly accelerates the Australian real-estate group's already formidable development pipeline. Analyst Howard Penny tells clients in a note that the A$1.89 billion package of assets represents a premium landbank that is ideally suited for uses including data-enabled logistics and AI-adjacent warehouse infrastructure. He writes that the deal is directly supportive of Goodman's work-in-progress pipeline, which has historically helped drive earnings upgrade cycles. Goodman has a strong track record of converting land into high-yielding developments, he adds. Citi has a buy rating on the stock and a target price of 40.00 Australian dollars. Shares are up 0.2% at A$32.76. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 17, 2026 23:33 ET (03:33 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.