Online real estate platform REA has almost halved from its mid-2021 high under the weight of selling across growth stocks and the increasing concerns around the health of the Australian property market but unlike SEK our preferred scenario is the stock has already seen its 2022 low hence we’re keen buyers of the current pullback.
- We can see REA breaking $115 as rising bond yields continue to weigh on growth stocks hence we are being patient, looking for another 4-5% downside.
MM is now considering REA under $115
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