0240 GMT - Jarden turns increasingly bullish about Australia's homebuilders, which have underperformed recently as investors speculate about an interest-rate rise as soon as next month. It upgrades Mirvac to buy from neutral, while continuing to rate Stockland at overweight. Analyst Tom Bodor says residential stocks look attractive "given recent underperformance, structural undersupply, government policy support, pipeline restocking measures and strong volume momentum." Also, it considers the hurdle for an interest-rate hike to be high. Explaining the Mirvac upgrade, Jarden says the company has recently won significant projects, including a redevelopment of the old Sydney Fish Market, that provide visibility to its earnings beyond its current lineup of major developments. This supports a three-year compound annual growth of 9% in its adjusted funds from operations, Jarden adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 13, 2026 21:40 ET (02:40 GMT)
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