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Morningstar cuts fair value estimate for Australia's LendLease after MSG North sale termination

By Reuters News19:38 (UTC), 9 November 2026 Updated

** Morningstar trims fair value estimate for Australia's Lendlease LLC.AX by 5% to A$3.80

** Real estate co said on Monday the agreement to sell its ownership interest in the development rights to the Milano Santa Giulia mixed-use development (MSG North) has been terminated

** Due to the termination, LLC will no longer receive the anticipated cash proceeds of A$90 million that were expected in 1H FY27

** Investment research firm maintains 2027 earnings forecast of A$0.37 per share, up 10% from last year; sees 2028 earnings to drop substantially to A$0.23 per share

** 2 of 6 analysts rate the stock "buy", 3 "hold" and 1 "sell"; their median PT is A$3.1, according to data compiled by LSEG

** Stock down 53.1% YTD, including moves in current session

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