Multiplex Group (MXG) Stock Recommendation

Multiplex Group (MXG) has an unchanged Reduce 2 stock recommendation and a share price target of $3.78 from stock analyst and investment bank UBS. MXG have announced an intention to launch the Multiplex European Property Fund (MEPF), initially comprising a 356 million Euros (A$595m) portfolio of 67 German retail (c50%), logistics/office (30%) & nursing home (c20%) assets. Whilst funds raised will target Australian sourced capital, management are yet to determine whether MEPF will be a listed/unlisted fund with mgmt yet to finalise structuring & gearing. The announcement is consistent with MXG's stratey noted at their Jun 2006 result. With MEPF, FuM will be greater than $6bn. At the Nov'06 AGM, mgmt noted the capital imbalance between Trust & Corp causing an expectation that MXG may move to accelerate its sell-down of Trust assets into funds.

Multiplex Group Limited is listed on the Australian Stock Exchange (ASX) under stock code MXG. You can view their investor website here. MXG was listed on the ASX on 2 December, 2003. The Multiplex Group is an integrated property group with operations in construction, property development, facilities management and property funds management. The Group will also hold a portfolio of investment grade properties initially comprising commercial and retail properties. You can view previous news and stock recommendation about Mulitplex (MXG). Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. Check your charts and good luck with your share trading!