Goodman Group

GMG: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$59.00	Svsbgp	Nmbslqbv

Goodman Group: Data Center Opportunity Is Large Thanks to AI, but Durability Questionable

Jon Mills

Aug 9, 2024

We retain our AUD 24 fair value estimate for narrow-moat-rated Goodman Group as we transition coverage to a new analyst. Goodman securities screen as overvalued, trading at a 35% premium to fair value. This is likely driven by optimism over increasing demand for Goodman’s properties as data centers to support cloud computing and artificial intelligence training by major technology companies.

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