MFG – Credit Suisse rates the stock as Neutral

Credit Suisse downgrades it EPS forecasts for asset managers by -16% on average for FY23, after allowing for market movements in the second quarter just finished.

Before changing its Neutral rating for Magellan Financial, the broker would like to see a stabilisation of institutional flows and some outperformance by the Global Fund. The target price falls to $12.40 from $14.40.

Sector: Diversified Financials.


Target price is $12.40.Current Price is $12.32. Difference: $0.08 – (brackets indicate current price is over target). If MFG meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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