Goldman Sachs upgraded REA Group to Conviction Buy from Buy with a price target of A$164, up from A$158. The analyst cites the company’s position as a leading real estate classified business with strong market positions across Australia, Asia and the United States, while offering "one of the best risk/reward profiles" in the firm’s domestic media coverage. REA Group also offers the highest ability to continue to drive pricing, with significant disparity between lead share and revenue share and the lowest cost relative to overall transaction, the firm tells investors in a research note.
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