Credit Suisse expects Domain Holdings’ earnings for the first half of 2018-19 to fall by 16.6%, to $20.6 million. The broker has also scaled back its share price target by 19%, to $2.50. Credit Suisse attributes its earnings downgrade to a decline in real estate listings, especially in the Sydney and Melbourne markets. UBS has also reduced its earnings forecast for Domain ahead of the release of its interim results on 15 February. From The Australian:
“The listings weakness, which was a feature of Domain’s October 2018 trading update, seems to have continued since,” Credit Suisse said.
