Citi Sticks to Its Buy Rating for Ingenia Communities Group (INA)

Citi analyst Suraj Nebhani maintained a Buy rating on Ingenia Communities Group and set a price target of A$5.42. The note references consensus market expectations of a Strong Buy rating and a target of A$5.32. Nebhani’s coverage focuses on the real estate sector and he also follows stocks such as Stockland, Mirvac Group, and Charter Hall Group. For the quarter ended December 31, Ingenia Communities Group reported quarterly revenue of A$257.51 million and net profit of A$97.39 million, compared with A$263.03 million in revenue and A$87.57 million net profit a year earlier. The update positions Citi as aligned with positive street sentiment while citing recent results.