PTM – Credit Suisse rates the stock as Underperform

By Broker News | More Articles by Broker News

Assets under managment for July fell 3% and this is underperformance compared to global markets, the broker noting this continues the recent trend of weak fund flow performance. To reflect this the broker has trimmed its earnings estimates and this pushes down its price target, while recent share price outperformance is behind its downgrade in rating. Sector: Diversified Financials.

Target price is $3.65.Current Price is $3.52. Difference: $0.13 – (brackets indicate current price is over target). If PTM meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →