Improving fund flows in April indicates to Credit Suisse that assumptions were too conservative. The broker now upgrades FY20 estimates by 2% and FY21-22 Buy 9-12%.
Ongoing uncertainty is expected to affect the investment management division. The broker retains a Neutral rating and raises the target to $27 and $26.
Sector: Diversified Financials.
Target price is $27.00.Current Price is $29.00. Difference: ($2.00) – (brackets indicate current price is over target). If PPT meets the Credit Suisse target it will return approximately -7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
