BUZZ-Citi reiterates 'buy' on Australia's Ingenia Communities, citing rate cuts view

Reuters
07-21
BUZZ-Citi reiterates 'buy' on Australia's <a href="https://laohu8.com/S/INA.AU">Ingenia Communities</a>, citing rate cuts view

** Citi reiterates 'buy' on Ingenia Communities Group INA.AX and says the operating environment could improve going forward with rate cuts

** "INA is our top pick in the land lease space, and we see upside potential heading into results as we expect INA to beat FY25 EPS guidance of 29-30c" - Citi

** The brokerage trims the property developer's earnings estimates but remains 2-2.5% ahead of the consensus for 2025-2027

** Adds stock lost about 3% in past three months and is underperforming the REIT sector and residential peers

** Five of eight analysts rate the stock "buy" or higher, two "hold", and one "strong sell"; their median price target is A$6.11, as per data compiled by LSEG

** Stock is up 14.6% YTD, as of last close

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))

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