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BUZZ-Australia's REA Group rises after Citi backs video hub feature

Reuters
Yesterday
BUZZ-Australia's REA Group rises after Citi backs video hub feature

** Shares of Australia's REA Group REA.AX rise as much as 1.2% to A$160.57

** Citi says property listing firm's Premiere+ video hub to drive platform engagement

** Says co's higher-than-forecast FY27 subscription price increase to 8%-10% vs estimate of 7% to reduce downside risk, potential softness in listing volumes

** Maintains "buy" rating on REA stock, keeps PT at A$199

** 11 of 14 analysts rate the stock "buy" or higher and three "hold"; their median PT is A$218.90 — LSEG data

** However, stock down 6% so far this week, set for its worst week since early February, if current trend holds

** Despite moves, stock down 12.8% YTD

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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