Maas Group's largely pre-announced, in a trading update on February 9, its results for the 1H, a period of high rainfall and a deteriorating real estate market, notes Morgans.

Earnings came in at the top end of the guidance range and management reaffirmed FY23 guidance, noting lower lot sales would be offset by strength in other divisions.

The broker revises down its FY23 lot settlement forecast, which has the largest impact on the new $3.80 target, down from $4.10. The Add rating is unchanged.

Sector: Materials.

Target price is $3.80.Current Price is $2.77. Difference: $1.03 - (brackets indicate current price is over target). If MGH meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena