SDF – Credit Suisse rates the stock as Downgrade to Neutral from Outperform

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First half results beat Credit Suisse estimates. The broker appreciates the fact the business is setting up for sustainable earnings, but growth remains below what can be expected in a positive premium rate environment.

Following the recent outperformance of the share price and lower underlying growth, Credit Suisse downgrades to Neutral from Outperform. Target is $4.

Sector: Insurance.

Target price is $4.00.Current Price is $3.79. Difference: $0.21 – (brackets indicate current price is over target). If SDF meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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