Morningstar hikes PT, 2023 profit view for Australia's Helia Group

Helia

30/07/2023 21:00

** Analysts at Morningstar raise its fair value estimate for
Australian mortgage insurer Helia Group  HLI.AX  by 6% to A$3.40
    ** Increase its 2023 profit forecast for HLI by 20%
    ** Brokerage lowers its 2023 claims forecast for HLI to A$20
mln ($13.30 mln) from A$75 mln 
    ** Expects claims to rise modestly in second-half of 2023
and into 2024 for HLI
    ** "Despite the benign near-term outlook, we still assume a
material increase in claims from fiscal 2024, and our long-term
forecasts are unchanged" - Morningstar
    ** One of three analysts rate the stock "buy", one "hold"
and one "sell"; their median PT is A$3.20 – Refinitiv data
    ** HLI stock up 50.8% YTD, as of last close 
($1 = 1.5040 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))