Goodman Group (GMGSF) has received a new Buy rating, initiated by Goldman Sachs analyst, Kane Hannan.
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Kane Hannan has given his Buy rating due to a combination of factors that highlight Goodman Group’s strategic positioning and growth potential. The company has made a significant shift from being an industrial developer to becoming a global infrastructure provider, which is expected to enhance its earnings growth. This transformation is supported by a strategic asset portfolio managed by an experienced executive team, positioning the company well for future expansion, especially with the anticipated interest rate cuts.
Additionally, Goodman Group’s focus on developing a highly strategic data center portfolio, valued at A$100 billion, is projected to drive significant development earnings and accelerate assets under management growth. The favorable market outlook, bolstered by global advancements in AI and cloud technologies, further supports this positive view. Moreover, Goodman Group’s substantial existing earnings and capital provide a strong foundation for its data center rollout, making it a key partner for global hyperscalers. This, combined with the support from its industrial segment, underpins the Buy rating assigned by Kane Hannan.
In another report released on May 29, UBS also maintained a Buy rating on the stock with a A$36.00 price target.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GMGSF in relation to earlier this year.