Highlights

  • Macquarie Research issued an Outperform rating on Goodman Group with a target price of AUD 34.73.
  • Goodman Group shares rose 6.47% to close at AUD 30.76.
  • The ASX 200 A-REIT Index gained 3.23%, outperforming the broader market.

Australian property stocks advanced on Monday, with the S&P/ASX 200 A-REIT Index finishing the session at 1,752.80, up 54.80 points or 3.23%. The broader S&P/ASX 200 Index rose 1.85% to close at 8,870.10 points.

Goodman Group (ASX:GMG) followed the sector rally and closed at AUD 30.76 on 9 February, rising AUD 1.87 or 6.47% during the session. Despite the single-day rise, the stock remains down 14.77% over the past year.

Despite the yearly drop, Macquarie Research issued an Outperform rating on the stock with a target price of AUD 34.73. The broker action coincided with a broader rally across listed real estate, pushing the S&P/ASX 200 A-REIT Index to outperform the wider market.

Broker Upgrade Puts Goodman Group in Focus

Macquarie Research assigned an Outperform rating to Goodman Group, setting a target price of AUD 34.73.

Last Update - European Data Centre Pipeline Supports Attention

Goodman Group last significant update was released on 23 December 2025, highlighting that the company continues to progress its European data centre development strategy through its partnership with Canada Pension Plan Investment Board (CPP Investments). The partnership involves a 50/50 structure with a total development value of up to AUD 14 billion.

The initial capital commitment totals AUD 3.9 billion, allocated to a portfolio of data centre projects in Frankfurt, Amsterdam and Paris. The Goodman European Data Centre Development Partnership includes four projects with a combined 435 megawatts of primary power and 282 megawatts of IT load.

All projects have secured power connections and planning approvals, with site infrastructure works substantially progressed. Construction is scheduled to commence by 30 June 2026.

Longstanding Global Partnership

CPP Investments and Goodman Group have worked together since 2009 across multiple regions, including Australia, Asia, the Americas and Europe. The European data centre partnership follows earlier initiatives such as the Goodman Hong Kong Data Centre Partnership and other developments in Europe and Japan.

The partnership marks CPP Investments’ first data centre venture in Europe and adds to its existing global data infrastructure portfolio.

Broker activity placed Goodman Group at the centre of Monday’s property sector rally, with Macquarie’s Outperform rating adding focus to the stock. As the A-REIT index outperformed the wider ASX, attention remains on Goodman’s global development pipeline and upcoming construction milestones in Europe.

Frequently Asked Questions (FAQ)

Q1: What rating did Macquarie assign to Goodman Group?
Macquarie Research issued an Outperform rating with a target price of AUD 34.73.

Q2: How did Goodman Group shares perform on Monday?
Goodman Group shares rose 6.47%, closing at AUD 30.76.

Q3: What is Goodman’s European data centre partnership?
Goodman and CPP Investments formed a 50/50 partnership valued at up to AUD 14 billion to develop data centres in Frankfurt, Amsterdam and Paris.