Momentum for lifetime annuities continues building with Challenger on its way to achieve its best quarter ever in Q4, while weaker-than-expected Funds Management offers some negative offset.
Citi analysts remain very much in favour of the thematic, but they also believe the positives have been priced in by now. Price target lifts to $9.55 from $9.30 with slightly decreased forecasts. Neutral rating retained.
Sector: Diversified Financials.
Target price is $9.55.Current Price is $9.41. Difference: $0.14 – (brackets indicate current price is over target). If CGF meets the Citi target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).