Macquarie ups PT, earnings view for ASX-listed shares of GQG Partners; shares rise

GQG Partners

09/07/2024 03:39

** Analysts at Macquarie raise PT for ASX-listed shares of
GQG Partners  GQG.AX  to A$3.05 from A$2.80
    ** Shares of GQG rise as much as 1.4% to A$2.89
    ** Brokerage raises earnings per share estimates by 4.3% and
8.7% for FY24 and FY25 with ~9% upgrades thereafter 
    ** GQG delivered 2Q24 net inflows of A$6.5 bln ($4.37
bln)and expects flow momentum to continue in 2024 with its
"solid pipeline"
    ** Broker forecast inflows of ~A$3.9 bln in 3Q24 and
increases CY25 net flow assumptions to ~A$5.4bn
    ** Avg rating of eight analysts, including Maquarie, is an
equivalent of 'buy;' their median PT is A$2.9 - LSEG data
    ** Stock has risen 67.2% this year, as of last close


($1 = 1.4859 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))