Australia's REA rises after walking away from $8.3 bln takeover offer for UK's Rightmove
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 01 2024
0mins
Source: Reuters
REA Group Abandons Takeover: Australia's REA Group shares rose 4% after the company decided to withdraw its $8.29 billion takeover bid for British real estate portal Rightmove, following multiple rejections and a lack of due diligence access.
Market Reactions and Future Outlook: Analysts believe shareholders are relieved by the decision, with expectations for a special dividend in fiscal year 2025, while investors now anticipate positive results from REA's upcoming first-quarter trading update.
Analyst Views on NWSA
Wall Street analysts forecast NWSA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NWSA is 40.33 USD with a low forecast of 38.00 USD and a high forecast of 43.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 26.730
Low
38.00
Averages
40.33
High
43.00
Current: 26.730
Low
38.00
Averages
40.33
High
43.00
About NWSA
News Corporation is a diversified media and information services company. Its Digital Real Estate Services segment consists of the Company’s interest in REA Group and Move. REA Group is a digital media business specializing in property and property-related services on its Websites and mobile apps. Move is a provider of digital real estate services in the United States and primarily operates a real estate information, advertising and services platform, as well as its referral-based services, online tools and services to do-it-yourself landlords and tenants. Its Dow Jones segment consists of Dow Jones, a global provider of news and business information, which distributes its content and data through a variety of media channels. Its Book Publishing segment consists of HarperCollins, a consumer book publisher with operations in 15 countries. Its News Media segment consists of News Corp Australia, News UK and the New York Post and includes The Australian, The Daily Telegraph, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
