BUZZ-Jefferies, Morningstar see shopping centre stake sale to be accretive for Scentre
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Jefferies analysts have raised the price target for Scentre Group to A$4.24, maintaining a 'hold' rating, following a deal where Dexus will buy a 25% stake in Westfield Chermside for A$683 million. This transaction is expected to free up capital for Scentre, potentially reducing its gearing to 30%. Morningstar anticipates a 4% rise in Scentre's FFO. Dexus's capital raising momentum is improving, though sentiment is pressured by APAC uncertainty, with an 'underperform' rating reiterated.
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