KSL – Morgans rates the stock as Add

By Broker News | More Articles by Broker News

Kina Securities profit beat the broker by 6% on 7% better than expected revenues. It was a very solid result, the broker suggests, in a period the company bedded down the transitional ANZ PNG acquisition. Cost-to-income has risen slightly but Kina is creating a solid recent track record of delivery to complement its strong organic growth profile.

On only a 7x forward PE despite 25% earnings growth in 2019, the stock is undervalued as far as the broker is concerned. Add retained, target rises to $1.67 from $1.65.

Sector: Diversified Financials.

Target price is $1.67.Current Price is $1.24. Difference: $0.43 – (brackets indicate current price is over target). If KSL meets the Morgans target it will return approximately 26% (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 →