Australia's Domain Holdings climbs as Morningstar raises fair value estimate

Shares of Domain Holdings DHG.AX rise 1.1% to A$4.055

Morningstar raises fair value estimate to A$4.43 from A$4.20, following improved buyout proposal from U.S. property data group CoStar CSGP.O

Brokerage predicts 100% probability of proposal being accepted, based on unanimous decision by co's board and known willingness of major shareholder Nine Entertainment NEC.AX to sell business

Morningstar adds that DHG's unique value to CSGP lies in potential cost reduction and margin boost by integrating DHG into CSGP's platform

Stock up 60.3%, YTD