Treasure Chest | 10:01 AM
FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts. Today's idea is Stockland.
By Danielle Ecuyer
FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts.
Whose Idea Is It?
Morgan Stanley
The subject:
The outlook for diversified Australian property owner and developer Stockland ((SGP)) against a backdrop of higher interest rates remains a point of contention between analysts.
While the share price has continued to consolidate around the $4-$4.20 level, views diverge around how much bad news is already discounted and whether a further deterioration in residential sales forecasts for FY28 from the Street consensus could impact on earnings, and thus the share price.
Morgan Stanley has joined Macquarie in cutting its FY28 residential lot forecast prompting a downgrade in its target price to $4.75 from $5.10, while retaining and Equal-weight rating.
The implicit suggestion made is that "consensus downgrades" are in the offing.
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