Australia's COG Financial Services hits near 17-year high after Bell Potter ups valuation

COG Financial Services

04/09/2025 04:33

** Shares of Australia's COG Financial Services COG.AX up as much as 7.4%, their highest level since September 15, 2008

** Stock extends gains from the previous session, last up 4.2% at A$1.97

** Analysts at Bell Potter raise valuation to A$2.25 from A$2.05, noting growth opportunities following COG's recent acquisition

** Finance broker aggregator said on Wednesday it acquired EasiFleet, a salary packaging business for A$40 million ($25.99 million)

** Brokerage notes COG has no client overlap with Easifleet, and the deal broadens its reach into Queensland and Victoria, while positioning it for government tenders in New South Wales and Victoria

** Brokerage sees A$7 mln run-rate EBITDA accretion from customer migration efforts, potentially within 12 months

** YTD, stock up 101%

($1 = 1.5389 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com;))