Citi upbeat on Australia's AMP and Computershare

Challenger

12/03/2024 20:21

** Analysts at Citi see upside for Australian wealth manager
AMP Ltd  AMP.AX  and share registry firm Computershare  CPU.AX  
    ** Says improving earnings quality and acquisitions at CPU
will lead to a consistent earnings stream
    ** Says AMP's margins seem to have stabilised; adds buyback
and an expected new dividend policy acting as support
    ** Says investment management firm Challenger's  CGF.AX 
rate of growth is likely to be muted by capital availability
    ** "We remain wary of its (CGF's) asset exposure should
tighter-for-longer credit conditions start to more meaningfully
impact," - Citi 
    ** Says financial services provider Perpetual's  PPT.AX 
outcome of strategic review is likely to be the key near-share
price driver
    ** Says wealth manager Insignia Financial's  IFL.AX  delayed
platform margin squeeze "helped the market perception of IFL but
the respite is likely to be only temporary" 

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))