RIGHTMOVE

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There were "limited surprises" in Rightmove's FY23 numbers, analysts at Peel Hunt said. Revenue climbed 10 per cent while adjusted operating profit rose eight per cent. "The outlook suggests 'steady as she goes'," they said, despite stronger competition from ONTHEMARKET. An improving housing market should also be supportive of Rightmove, they said. They rated it a 'Buy' with a 605p target price.

REGIONAL REIT

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Regional REIT is "actively exploring" its options ahead of a £50m retail bond maturing in August. Analysts at Peel Hunt said the "optimum" long-term solution is a "significant disposal programme". This could see a £75m equity raise alongside £75m of disposals. While analysts saw a "significant upside" to recapitalisation, "risks cannot be ignored." They lowered their target price from 40p to 20p and downgraded from 'Buy' to 'Hold'.

(c) 2024 City A.M., source Newspaper