Brokerage firm Barrenjoey has reduced the price target for shares in property and infrastructure company Lendlease (ASX:LLC) to A$8.25 from a previous target of A$9.10.

This decision comes in the wake of Lendlease reporting a statutory loss after tax of A$232 million for the year on Monday.

Barrenjoey expressed disappointment at the fiscal year 23 result, stating it was weaker than expected for the investment income yield and operating margins.

According to Refinitiv, three out of nine analysts rate Lendlease stocks as ‘buy’ or higher, four advise to ‘hold’, and two suggest ‘sell’.

The median price target is A$9.07.

Despite these challenges, Lendlease’s stock has risen by 5.1% this year, as of the last closing.

Lendlease is a Sydney-based property and infrastructure company with operations in more than 80 countries.