CGF – UBS rates the stock as Neutral

By Broker News | More Articles by Broker News

FY17 results were below UBS estimates. The broker believes the company has simultaneously pre-funded the next 3-5 years of growth and improved its resilience to asset market volatility while enhancing strategic growth options.

FY18 guidance for pre-tax profit of $545-565m is -3% below UBS estimates. The broker retains a Neutral rating. Target is reduced to $12.35 from $12.80.

Sector: Diversified Financials.

Target price is $12.35.Current Price is $12.35. Difference: $0.00 – (brackets indicate current price is over target). If CGF meets the UBS target it will return approximately 0% (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 →