(REA +4.89%): Macquarie upgraded REA Group to a buy while simultaneously cutting competitor Domain (DHG) to a hold arguing REA has a bigger sway in the market. The analyst talked to the 1.7x audience REA holds over DHG, and with a cheaper pricing model it is pretty easy to argue it has the ascendancy. Macquarie also noted more than 80% of agents preferred RealEstate.com.au if they had to choose between the two. Despite today’s ~5% under performance, shares in Domain have performed marginally better than REA since the start of 2021.
MM like REA around here.
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