PTM – Morgan Stanley rates the stock as Underweight

The company reported -$111m in net outflows in January, which have accelerated versus December and November.

This is consistent with Morgan Stanley’s view that Platinum Asset Management faces the greatest de-rating risk among asset managers under coverage.

The broker maintains an Underweight rating, $3.50 target and In-Line industry view.

Sector: Diversified Financials.

Target price is $3.50.Current Price is $4.79. Difference: ($1.29) – (brackets indicate current price is over target). If PTM meets the Morgan Stanley target it will return approximately -37% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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 →