REA has almost halved from its mid-2021 high under the weight of selling across growth stocks and increasing concerns around the health of the Australian property market. However, equities usually offer the best opportunities when things look their worst. REA has bounced even harder than SEK enjoying a +40% gain from its mid-June low.
- Unlike SEK it’s hard to see REA making fresh lows for the year and we like the risk/reward into weakness under $120, or around 11% lower.
MM likes REA ~$115
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