CGF – Morgans rates the stock as Hold

By Broker News | More Articles by Broker News

September quarter sales and assets under management was strong, with total annuity sales growth of 45%.

In Morgans’ opinion the only slight negative was that annuity growth primarily came from institutional sales, which are typically more volatile and lower margin.

Hold rating retained. Target rises to $12.49 from $12.23.

Sector: Diversified Financials.

Target price is $12.49.Current Price is $13.19. Difference: ($0.70) – (brackets indicate current price is over target). If CGF meets the Morgans target it will return approximately -6% (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 →