Goodman Group (ASX: GMG) Share Price Rises After UBS Upgrade Despite 2% Price Target Cut

Mon 12 May 25, 05:41 AM |

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Highlights

Goodman shares climb 2.5% to A$32.13, reaching highest level since March 25

UBS upgrades GMG to “buy” amid improved funding outlook for $100 billion data centre plans

Brokerage trims price target to $36 on possible future capital requirements via development JVs

Shares of Goodman Group Ltd (ASX: GMG) gained as much as 2.5% on Monday to trade at A$32.13, marking their highest level since March 25. The intraday rise follows an upgrade from UBS, which lifted its rating on the property developer from “neutral” to “buy”, citing increased confidence in funding plans for Goodman’s ambitious A$100 billion ($64.2 billion) global data centre development pipeline.

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