Westfield (WDC) stock recommendation

Westfield (WDC) have a reiterated Buy Medium Risk stock recommendation with a share price target of $21.40 (was $19.03) from share analyst Citigroup Investment Research (CIR). CIR believes that the commercial property manager continues to represent good value relative to both domestic and global peers. Westfield have stated that the operating business can achieve 6 percent growth on a constant currency basis. CIR considers this a low estimate of what management can achieve. To achieve it, only about 2.3% net rental growth leveraged to 3.5% is needed, together with approximately 2.5% earnings growth from development accretion. CIR says that "it remains difficult to compare Westfield with US peers on earnings estimates given accounting differences. However, on NAV metrics Westfield appears attractive relative to US peers."

Westfield Group Limited is listed on the Australian Stock Exchange (ASX) under stock code WDC. You can view their investor website here. Westfield was listed on the ASX on 5 July, 2004. David H Lowy and Fred G Hilmer are deputy chairmen for Wesfield (WDC). Read previous Westfield (WDC). Read previous news and stock recommendations for Westfield (WDC). Westfield is involved in shopping centre investment, property management, leasing and marketing, property development, design and construction, funds/asset management. 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!