0111 GMT - Goldman Sachs analysts are confident that Australian property advertiser REA Group can sustain double-digit yield growth past Owen Wilson's retirement as CEO. They think that the health of the Australian property market gives the News Corp-controlled company a strong hand as it enters pricing discussions for fiscal 2026. They point to low churn rates following recent price rises. The listings outlook into the medium term is more positive than GS had previously anticipated, they write in a note to clients. They lift their earnings forecasts through fiscal 2027 and raise their target price on the stock by 2% to A$273. GS keeps a buy rating on the stock, which is up 3.5% at A$263.90. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 20:11 ET (01:11 GMT)
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