Macquarie 18/11/2009 1 Outperform $0.71 12.7%
Goodman Group's Goodman Australia Industrial Fund is looking to raise $320m, with the broker noting that the proceeds will be used to pay down debt, seeing gearing fall from 41.6% at 30 June, to 33%.
Yet Macquarie still sees the need for asset sales if Goodman is to earn further development fees from the fund. Outperform and target maintained.
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