Westfield Group (WDC) Shares Recommendation

Westfield Group (WDC) have a Neutral 1 Shares Recommendation and a $20.15 share price target from stock analyst UBS. Their price target is based on a 2.5 percent property income growth and $1.5 to 2 billion worth of developments per year with no acquisitions. Westfields have sold 50% of Merry Hill and the surrounding land to QIC for GBP524m, 11% above total cost & 5.8% above carrying value. Westfield will retain property management, leasing &development rights of the centre. Current yield on sale was 4.3% (CY06 income, less centre mgt fees). Medium term development potential is dependant upon a "Black Country Govt study (6-12mths)" deeming Merry Hill with Regional Centre status.

Westfield Group Limited is listed on the Australian Stock Exchange (ASX) under stock code WDC. You can view their investor website here. WDC was listed on the ASX on 5 July, 2004. Peter Lowy is the Managing Director of Westfield and both David Lowy and Fred Hilmer are Deputy Chairmen. WDC is principally 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. You can use Instalment Warrants to trade WDC. Check your charts and good luck with your share trading!