1759 GMT - Rightmove could see a downside to consensus estimates if an investigation is launched into its pricing strategies, Citi says in a note. Over 60% of revenue growth out to 2028 is expected to be driven by pricing agents--independent consultants who provide pricing services--Citi says. Therefore, the outcome of a possible investigation affecting its pricing strategies could affect consensus, Citi says. Shaun Adams, owner of independent agent Cooper Adams, launched a petition for the U.K. Competition and Markets Authority to investigate the housebuilder's pricing practices after being notified of an 18% hike in fees, Citi says. According to Adams, Rightmove has abused its dominant market position and engaged in anti-competitive behavior, Citi says. The petition has been signed by 149 signatories since it opened on Monday, Citi says. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
February 19, 2025 12:59 ET (17:59 GMT)
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