GPT has advanced strongly over recent months, but we believe it’s too early to fade this strength. They delivered a solid 1H24 result in August, which has helped the stock rally ~30% from its July swing low. The growth aspect of GPT actually comes from funds management, which will become a bigger slice of the pie in the coming years. Markets at new all-time highs are helping here, and we see no reason to exit our position at this stage; plus, the company is due to pay a 12.5c unfranked divided in December.
- We are targeting a test of $5.50 by GPT over the coming months, over 10% higher.
MM is long and bullish toward GPT
Add To Hit List
