CGF – Morgans rates the stock as Hold

Morgans updates the Insurance/Diversified Financials sector earnings on a mark-to-market basis and a broad review of earnings assumptions.

Despite seeing a broadly difficult reporting season for stocks in the sector, the broker believes Challenger is one of the best positioned of the large cap stocks to produce solid/stable results.

Morgans makes small EPS estimates downgrades on more conservative life business margin assumptions given recent interest rate cuts.

The Hold rating is unchanged and the target price is $6.80.

Sector: Diversified Financials.

 

Target price is $6.80.Current Price is $6.93. Difference: ($0.13) – (brackets indicate current price is over target). If CGF meets the Morgans target it will return approximately -2% (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 →