Charter Hall Group's (ASX:CHC) delivery of a third profit upgrade for fiscal 2026 against the backdrop of an 0.8% rise in bond yields is "impressive," Jefferies said in a Monday note.
The company recently increased its fiscal-year guidance for operating earnings to AU$1.03 per security from AU$1 previously, in line with Visible Alpha estimates and slightly ahead of Jefferies'.
The upgrade represents a nearly 27% increase in fiscal 2025 operating earnings per security of AU$0.814.
Additionally, the company said its financial year-to-date gross equity inflows total AU$6.5 billion, the highest in its 35-year history, up by AU$1.7 billion since the first half of the current fiscal year.
The company also secured 25 new institutional investors over the past 18 months, with property funds under management increasing to AU$74.7 billion from AU$71.7 billion at the end of 2025.
Jefferies upgraded its fiscal year 2026 to fiscal year 2028 operating earnings per share forecasts by 3% to 7%, expecting the company to hit AU$1.04 per security in the current fiscal year.
Jefferies maintained its buy rating on Charter Hall Group and lifted its price target to AU$33.83 from AU$32.03.