Multiplex Group

Multiplex Group (MXG) have a Neutral 2 shares recommendation and a share price target of $4.70 from shares analyst UBS. MXG has received a request from an undisclosed 3rd party to commence discussions which may lead to an offer for MXG or its assets. This came after the Roberts Family (25.63%) were approached & responded that any offer should be put to the MXG Board, after which the family will consider it. The analyst expects that if the approach proceeds, the group would open up the bidding to others. The key issues are what figure buyers might pay, whether offers come in for the entire group or just parts (& any resulting implications for certainty) & whether the Roberts Family wish to to deal by accepting or even participating in some form. The analyst expects the share price will stay at present levels whilst the bid process proceeds.

Multiplex Group (MXG) has an unchanged Reduce 2 stock recommendation and a share price target of $3.78 from stock analyst and investment bank UBS. MXG have announced an intention to launch the Multiplex European Property Fund (MEPF), initially comprising a 356 million Euros (A$595m) portfolio of 67 German retail (c50%), logistics/office (30%) & nursing home (c20%) assets. Whilst funds raised will target Australian sourced capital, management are yet to determine whether MEPF will be a listed/unlisted fund with mgmt yet to finalise structuring & gearing.

Multiplex Group (MXG) has an unchanged Neutral 2 stock recommendation and a share price target of $3.72 from stock analyst UBS.

Citigroup Investment Research has maintained their Buy / High Risk Recommendation on Multiplex Group (MXG) stock with a share price target price of $3.36. Multiplex Group is listed on the Australian Stock Exchange (ASX) under stock code MXG. Check your charts!