DHG downgraded earnings this week due to lower listing volumes which would hurt 1H23 earnings, EBITDA guidance was slashed down to $48m from $62m – until confidence returns to the Australian property market it’s hard to envisage DHG enjoying a meaningful recovery, but there will be a time for a turnaround!
- We feel DHG looks good value under $3 but this worm may take time to turn.
MM is neutral DHG short term
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