AFG – Macquarie rates the stock as Outperform

The broker has cut its Australian Finance Group earnings forecasts by -3% out to FY25 following a review of credit, hardship and investment risk. The broker notes the company has no debt and $50m in cash.

Outperform retained, target falls to $1.95 from $2.02.

Sector: Banks.

Target price is $1.95.Current Price is $1.36. Difference: $0.59 – (brackets indicate current price is over target). If AFG meets the Macquarie target it will return approximately 30% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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