Mirvac Group

MGR: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Mirvac: Fair Value Cut 16% on More Cautious View on Residential Development Margins

Adrian Atkins

Jun 26, 2024

We cut our fair value estimate for no-moat Mirvac by 16% to AUD 2.60 per security, as we transfer coverage to a new analyst. We’ve taken a more cautious view of the group's longer-term outlook, particularly on residential development margins. Even so, Mirvac securities screen as significantly undervalued.

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Mirvac Group

Mirvac: Fair Value Cut 16% on More Cautious View on Residential Development Margins

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