REA were out with their 1Q sales update this morning that on an initial look through appeared solid as their Australian Residential business enjoyed a strong quarter with revenue up 12%, broadly inline with the increase in national house prices.
Our recent comments on REA still stand – we remain bullish into 2024 – recent MM’s REA notes.
- We continue to like tech and real estate into Christmas, targeting +$170 for REA.
MM remains bullish on REA
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