NHF – Citi rates the stock as Upgrade to Neutral

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Management has upgraded guidance but Citi maintains the risk is to the upside. Their own forecast remains well above increased guidance for this year.

Estimates have been increased by 6-8%. Target price lifts by 50c to $6.50. Rating upgraded to Neutral from Sell as Citi believes the growth profile looks strong, but so is the valuation.

The financial result itself was a "beat", but the analysts point towards one-offs, while admitting underlying trends remain "strong".

Sector: Insurance.

Target price is $6.50.Current Price is $6.66. Difference: ($0.16) – (brackets indicate current price is over target). If NHF meets the Citi target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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