What are MM’s thoughts on REA?
Thoughts on REA please.
Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Thoughts on REA please.
Hi Colin,
We believe REA is top quality operator who delivered a solid result earlier in the month, they grew earnings by +22% in first half aided by strong listing volumes in Sydney & Melbourne. However the stock initially dipped on the release with cost guidance coming in higher than expected which is likely to weigh on the 2H earnings.
As has been the case with most quality ASX names there was little to no follow through selling and the stock is still trading within striking distance of its all-time high.
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