Mirvac Group
MGR: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$6.90 | Mvq | Qjxwfstm |
Mirvac: Fair Value Cut 16% on More Cautious View on Residential Development Margins
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.