The REA Group has delivered a solid 1q17 result with revenue growth of 16% and EBITDA growth of 9 per cent leading to a hold rating by analysts at Deutsche Bank.
The company's price target has been retained at $49.50/share with analysts upgrading the value from SELL to HOLD.
Yesterday REA's Group Chief Executive Officer Tracey Fellow commented on the group's first quarter. She said:
“This has been a strong first quarter for REA Group given the softer market conditions in Australia. Our focus on continuously improving consumer experience and creating value for our customers saw us deliver an increase in depth revenue.”