Pexa Group's 1H NPATA was a -20% miss versus consensus largely due to increased costs for the International and Digital businesses, explains Morgans. It's felt a lack of news on the UK build out was more responsible for the circa -5% post result share price fall.

Despite indicating good progress for the UK expansion, the analyst (arguably) believes management flagged a slower timeline for onboarding UK lenders during FY23.

The broker's Add rating is maintained on the potential of future expansion opportunities, while the target falls to $15.11 from $15.32.

Sector: Real Estate.

Target price is $15.11.Current Price is $12.36. Difference: $2.75 - (brackets indicate current price is over target). If PXA meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena