CGF – Macquarie rates the stock as Outperform

By Broker News | More Articles by Broker News

Challenger reported net book growth of 3.1% in the Sep Q, underpinned by annuity sales. An announced annuity partnership with Netwealth ((NWL)) should support growth, the broker notes.

Guidance for 8-12% FY19 profit growth has been maintained and the broker retains Outperform. Target rises to $12.50 from $12.40.

Sector: Diversified Financials.

Target price is $12.50.Current Price is $11.27. Difference: $1.23 – (brackets indicate current price is over target). If CGF meets the Macquarie target it will return approximately 10% (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 →