The company has withdrawn FY20 guidance and confirmed its balance sheet is sound.

Morgan Stanley believes Mirvac is likely to be affected by lower foot traffic at the large shopping centres such as Broadway (Sydney), where there is a large student population, and Harbourside/Birkenhead where there is significant tourist traffic.

Equal-weight. Target is $3.40. Industry view is In-Line.

Sector: Real Estate.

Target price is $3.40.Current Price is $1.98. Difference: $1.42 - (brackets indicate current price is over target). If MGR meets the Morgan Stanley target it will return approximately 42% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2020 Acquisdata Pty Ltd., source FN Arena