REA's Slower Expansion Seen More Positively at UBS
Dow Jones
Yesterday
0441 GMT - REA Group's acquisition of a stake in Ireland-based marketplace operator Distilled is received more constructively by UBS analysts than previous M&A efforts. The analysts like the slower approach to international expansion, even if the News Corp-controlled real-estate advertiser is paying a premium price. Less positively, they tell clients in a note that the move means less chance of near-term capital returns from REA, which failed with a 2024 attempt to take full ownership of U.K.-based Rightmove. UBS keeps a neutral rating on the stock and cuts its target 7.3% to 164.00 Australian dollars. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires.
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