Australia's GQG Partners rises as Macquarie retains 'outperform' rating

GQG Partners

25/01/2024 04:18

** Shares of Australia's GQG Partners  GQG.AX  rise as much
as 1.6% to A$1.8025 after Macquarie maintains "outperform"
rating
    ** Stock at its highest level since Jan 12
    ** Brokerage says it has increased FY23 earnings estimates
by 2.3%, earnings estimate for FY24 by 13.7%, and set target
price at A$2.25
    ** Macquarie forecasts inflows of A$1.5 bln ($986.40 mln) in
1Q24 and A$4.7 bln in CY24
    ** Six analysts rate the stock "buy" or higher; their median
PT is A$2.22 – LSEG data
    ** Stock rose 22.2% last year
    
    
   ($1 = 1.5207 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))