Australia's HMC Capital rises as Morgan Stanley raises PT to Street-high

HMC Capital

12/12/2024 24:49

(Updates with share moves)
** Shares of HMC Capital  HMC.AX  rise as much as 5.9% to
A$12.390 after Morgan Stanley raises price target to Street-high
of $12.98 from $10.95
    ** Brokerage sees increase in HMC's assets under management
citing underwritten establishment of DigiCo REIT with AUM of A$4
bln ($2.55 bln), and the progress of Energy Transition Fund
    ** Also sees higher FY25 pre-tax earnings of 71.4 AU cents
per share, reflecting better month-on-month trading update for
November
    ** Stock among top gainers on the benchmark S&P/ASX 200
 .AXJO  index which is flat
    ** Average rating of seven brokerages is a "hold;" median PT
is A$8.94 — LSEG
    ** As of last close, stock up 89.9% YTD
     
     
    ($1 = 1.5704 Australian dollars)

(Reporting by Aaditya Govind Rao and Nichiket Sunil in
Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))