2341 GMT - Goodman Group loses a bull in Bell Potter as it seeks to lock in customers for its growing portfolio of data centers. Bell Potter downgrades Goodman to hold from buy, even as it talks up the company's record of delivering projects. "While we continue to expect that to be the case, we do think that FY27 is likely another year of building blocks that requires substantial operating cash outflow," analyst Andy MacFarlane says. Bell Potter highlights several milestones--customer leasing, partnerships, and commensurate cash returns on cost--that "will take some time to build out amongst a competitive peer set." Bell Potter trims its price target by 3.8% to 32.65 Australian dollars. Goodman ended Thursday at A$28.78.