Ord Minnett lifts its target for Charter Hall Group to $23 from $20 after a material earnings upgrade, only six weeks after the last upgrade. It's thought 1H growth in funds under management (FUM) as well as higher transactional and performance fees drove the upgrade.

The broker lifts its EPS forecasts by 10% and points out the group remains highly leveraged to the continuing asset cycle. The Accumulate rating is unchanged.

Sector: Real Estate.

Target price is $23.00.Current Price is $21.97. Difference: $1.03 - (brackets indicate current price is over target). If CHC meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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