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).