Australia's Challenger rises as Citi upgrades to 'neutral'

Challenger

29/07/2024 04:53

** Shares of Australia's Challenger  CGF.AX  rise as much as
4.7% to A$7.140, hitting their highest level since April 2
    ** Citi upgrades stock of investment management co to
"neutral" from "sell" with a TP of A$6.95
    ** Analysts at Citi expect FY25 normalised net profit before
tax (NPBT) to be 3% above consensus
    ** CGF stock posts its biggest intraday pct gain since April
18
    ** Eight of 13 analysts rate the stock "buy" or higher, five
"hold"; their median PT is A$7.79 – LSEG data
    ** Stock up 5.1% this year, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))