0529 GMT - Goodman's bull at Citi sees no impact on its short- or medium-term outlook from the Australian developer's decision to axe plans for a suburban Sydney data center. Analyst Howard Penny acknowledges that scrapping the Lane Cove development is incrementally negative for sentiment, but reminds clients in a note that it has no impact on Goodman's work in progress, secured pipeline or near-term earnings. More important in Penny's view are factors including a 37% upgrade to Goodman's work in progress, its 20-year hyperscale lease in Tokyo, and welcoming of a new sovereign partner via a recent US$455 million capital raise. Citi has a buy rating on the stock, which is down 1.9% at 25.79 Australian dollars.
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