Credit Suisse downgrades earnings estimates by -3-4%. The broker believes the company has one of the best products in the market and is able to gain market share through capturing an outsized share of flow.
While believing there are barriers to prevent an immediate shift in pricing, Credit Suisse expects there will be a multi-year erosion to platform revenue margins. Nevertheless, profit growth is expected to remain high. The broker maintains a Neutral rating and $13 target.
Sector: Diversified Financials.
Target price is $13.00.Current Price is $11.61. Difference: $1.39 – (brackets indicate current price is over target). If HUB meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).