CGF – Macquarie rates the stock as Outperform

By Broker News | More Articles by Broker News

Challenger’s result beat the broker and hit the top end of guidance. Funds management fell a little short due to a higher cost base following the Dexion acquisition but the Life division delivered on growth, margins, credit quality and capital strength, the broker suggests.

Outperform retained, target rises to $8.61 from $8.56.

Sector: Diversified Financials.

Target price is $8.61.Current Price is $7.18. Difference: $1.43 – (brackets indicate current price is over target). If CGF meets the Macquarie target it will return approximately 17% (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 →