First-half net profit was ahead of Macquarie’s estimates. Record results from ARHI and international health insurance were supported by growth in premiums and expanded margins.
The broker finds FY19 operating conditions supportive. Macquarie maintains a Neutral rating and raises the target to $5.47 from $5.22.
Target price is $5.47.Current Price is $5.67. Difference: ($0.20) – (brackets indicate current price is over target). If NHF meets the Macquarie target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).